Indian startups saw over 250 acquisitions in 2021: Entrackr report
- ByStartupStory | January 17, 2022
Last year, the Indian startup ecosystem set new records, whether it was for fundraising,
minting unicorns, or company employee share buyback plans. Another statistic that reached record numbers in the ecosystem was acquisitions. According to entracker’s data-tracking tool Fintrackr, more than 250 firms were purchased or acquihired by larger companies in the Indian startup ecosystem in 2021.
Whereas edtech startups like Byju’s, Unacademy, and upGrad made headlines for their acquisition sprees, e-commerce roll-up startups like Mensa Brands, GlobalBees, 10club, Upscalio, and fitness tech platform Cultfit (Curefit) took over smaller brands as well, recording the highest number of acquisitions last year.
According to Fintrackr data, edtech unicorn Byju’s was in first place in 2021, with 10 acquisitions in its portfolio. During the same time period, four Thrasio-style startups, including Mensa Brands, Upscalio, GlobalBees, and 10club, combined acquired 30 smaller brands. Goat Brand Labs, another startup in the industry, had also announced the acquisition of 11 brands, but the Rishi Vasudev-led business only revealed the name of one of them, Frangipani.
Last year, Curefit and its sub-brand Cultfit acquired seven firms. Curefoods, a cloud kitchen firm established by Ankit Nagori, bought seven startups, edtech unicorn Unacademy acquired five startups, and upGrad and content to commerce platform Good Glamm Group both acquired four startups.
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