The next wave will be from healthcare, crypto, and Deeptech after the current startup wave
- ByStartupStory | May 3, 2022
Bangalore-based startup Open becomes the 100th unicorn to join the club. The $50 Mn investment in a Series D funding round increased its valuation to enter the Unicorn club. The Indian ecosystem had an eventful decade ending in 2020 when it completed a century of unicorns. And if the trend continues, then by the end of this decade India could surpass China, since the year-on-year increase in the number of unicorns is higher in India than in China. Looking at the number of Unicorns in India, it is now competing with the US, China, and The UK in the number of unicorns.
Mohandas Pai, the former CTO of Infosys, has been at the forefront of the Indian startup system all while watching the number of unicorns increase from Zero to 100. Mohandas Pai believes that India could do much better in the startup ecosystem if the structural issues were solved in the country and also grow the number of unicorns. When Open became the 100th unicorn in India, Pai’s reactions were mixed with hope and joy at the same time and said that India will have to move ahead in this Startup sphere with a cautionary approach since India could do so much better than it is doing now.
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