A unicorn is any privately owned firm with a market capitalization of more than $1 billion. It denotes new entities dedicated to offering creative solutions and new business models, among other things.
ndia has become 3rd largest start-up ecosystem in the world after US and China. The number of newly recognized start-ups increased to over 14000 in 2021-22 from 733 in 2016-17.
44 Indian start-ups have achieved unicorn status in 2021 taking the overall tally of unicorns to 83, most of which are in the services sector.
The growth of Unicorns in India has been phenomenal in the past two years. In 2018, there were 17 Unicorns, and then the number went up to 38 in 2020, and it’s 71 and counting in 2021. Many of these unicorns, which have cumulatively raised more than 9 billion dollars to date, have also seen a surge in valuations.
Some of the successful Indian unicorns are Lenskart, Cred, Meesho, PharmEasy, Licious, Grofers, etc. Fintech was arguably the biggest contributor to the unicorn universe. CRED, Groww, Zeta, BharatPe, Mobikwik, Upstox, Slice were the fintech additions to the unicorn list. Edtechs like Byju’s, Eruditus, upGrad, and Vedantu also got added to the list.
The Indian economy is in expansion mode and the start-ups are slowly gaining their footing all across the country. The unicorns are the best examples of how to capture the consumer base effectively for longer periods. More start-ups can become unicorns if the right lessons are learned and implemented.
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