India’s 100 Startups Unicorn – A New Milestone for India’s Economy


After a massive 44 unicorns in 2021, the milestone of 100 unicorns was just a step away for the Indian startup ecosystem. India had doubled its unicorn count to 84, and two publicly-listed companies named MapmyIndia and EaseMyTrip also joined the unicorn club. This number raised to 99 startups with a valuation of over $1 Bn. Now, with the entry of neo-banking startup Open, which raised a Series D funding round from IIFL. With its $50 M fundraising, the startup guarantees to have become the 100th unicorn in India.

What an incredible milestone! The 1st Indian unicorn was held in 2011. After 11 years later we’re welcoming the 100th Indian unicorn, tweeted by Rajan Anandan, managing director of Sequoia Capital India.

Piyush Goyal, the union minister for industry and commerce, celebrated by mentioning:

“India = Ideas + Innovation + Investments,”

Since 2020, Indian startups have grown and scaled swiftly, and with this growth, the flood of capital from foreign investors as well as the domestic investor pool expanded.

The government is demonstrating a target of 1,000 unicorns within the next upcoming years and forecasted a vast number of new unicorn startups will enter from India’s hinterlands.

India’s 100 unicorns have a progressive valuation of $333 Bn, with Flipkart and BYJU’S being the two highest appraised privately-held startups with a valuation of $37.6 Bn and $21 Bn respectively.

Nykaa has a market cap of over $1 Bn, currently scales on top of the charts with a valuation of over $10.6 Bn.

All eyes are now on the next batch of startups that will make it to the unicorn club and take it beyond 100 scales.

Many of the 73 startups from the soonicorn club have now graduated to be unicorns.

In terms of funding, the figures have fallen down since months from $4.6 Bn in January 2022 to $3.4 Bn in March and currently stayed at $2.6 Bn. The IPO insanity expected in 2022 has also not been criticized as a response to the shifting focus of investors globally to better value bets.

Earlier this month, the combination of investment reduced and the focus on corporate governance and financial practices are likely to lead to challenges for Indian startups such as layoffs, down rounds, low valuations and distress M&As. But as for now, the center of attention will be on celebrating the 100th unicorn in the Indian startup ecosystem.

Tags : Unicorn, StartupsDekho