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Funding boost: One unicorn being added in India every 5 days

The unicorn wave in India continues unabated with one being added every five days – in January and February 2022. The country is expected to have more than 100 start-ups valued at more than $1 billion in 2022, according to a report by HDFC Securities.

Funding boost: One unicorn being added in India every 5 days
In 2021, the year termed as the ‘age of the unicorns’, India ranked third in terms of unicorns.

The year 2021 saw the emergence of 42 unicorns, taking their total number to 79 as the funding activity in the country also remained buoyant with a record $66 billion in deal inflows.

The unicorn wave in India continues unabated with one being added every five days – in January and February 2022. The country is expected to have more than 100 start-ups valued at more than $1 billion in 2022, according to a report by HDFC Securities.

In 2021, the year termed as the ‘age of the unicorns’, India ranked third in terms of unicorns. The total funds raised by 42 unicorns rose by 11% to $12.8 billion on a year-on-year basis from $1.2 billion in 2020. The valuations jumped five times to $89 billion and the average deal size also doubled.

Among the sectors, fintech and e-commerce accounted for about 50% of the total funds while health-tech, media-tech, food-tech and ed-tech combined accounted for 35% of total funds invested, the report authored by Amit Chandra and Mohit Motwani said.

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First published on: 19-03-2022 at 03:45:00 am