50 more unicorns on the way; over 100 startups valued at more than $1 billion by the end of 2022: report
- ByStartupStory | January 18, 2022
As per a report released on Monday by a consulting firm, India has 50 startups with the opportunity to deliver the coveted unicorn’ status in 2022, and the list of new-age companies valued at over $1 billion will be at least 100 by the end of the year.
According to some observers, India added 43 startups to the list in 2021, with the number of unicorns increasing to 68 by the end of the year, owing to a huge increase in company valuations in the listed and unlisted space due to ample liquidity.
According to a report by PwC India, over $10 billion was invested in the Indian startup ecosystem in just the third quarter.
The firm’s partner for deals and startups Amit Nawka said, “we can see that the base of companies in the growth stage and late-stage deals has improved significantly in CY21, depicting a stronger base of companies with the potential to reach unicorn status.”
He added that market sentiments are favourable to startups, and that when combined with the large number of startups, the number of unicorns will exceed 100 by the end of 2022.
As per the report, venture capital and private equity funds invested nearly three-quarters of their total capital in Bengaluru and the National Capital Region (NCR).
Companies like Khatabook, Whatfix, Practo, Ninjacart, Inshorts, Ecom Express, Pepperfry, and Livspace were included in its list of 50 potential unicorns because of their history of raising more than $100 million.
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