Monday, November 25

Indian startups raise USD 63 bn since 2016, generate 27 unicorns

New Delhi, 1st Oct 2020: The startup’s ecosystem has raised as much as USD 63 billion in growth capital between 2016 and 2020, when they spawned 27 unicorns, according to the data collated by the Indian Private Equity and Venture Capital Association and Praxis Global Alliance.

According to them, this makes India the third-largest tech startup ecosystem in the world. Of the total inflows, nearly half came in 2019 alone USD 34 billion, and USD 17 billion in 2020 till May.

The time period also created as many as 27 unicorns in the country.

Unicorns are those with USD 1 billion or more valuation. Tech-enabled players continue to drive investors’ interest and have dominated the early-stage funding landscape here.

According to Rajat Tandon, the president of the Indian Private Equity and Venture Capital Association, “This is a great report covering data and insights on our booming tech startup ecosystem, carrying fresh perspectives about developers and service demand.

“The growth stage startup and venture capital ecosystem is poised for the next leap with an increasing number of unicorns, soonicorns and minicorns, even amidst the pandemic.”

Madhur Singhal, managing director of Praxis Global Alliance said, “The domestic startup ecosystem is primed for a renewed phase of growth. Ecommerce and tech startups have shown resilience during the pandemic fundamentally altering their unit economics to become more sustainable.

Praxis Global is a next-gen management consulting and business research services firm delivering practical solutions to business problems by combining domain practitioner expertise, AI-led research approaches, and digital technologies.