TheNFAPost Podcast
1

New Delhi, NFAPost: Acccording to a Nasscom report, India counts the maximum number of unicorns in the first nine months of 2021 with 28 startups gaining the unicorn status during this period of time. The total number of unicorns in the country increased from 3 in 2020.

Since India attracts more investments, Unicorns are created with its valuation. Wehn companies exceed a valuation of $1billion or more it is termed as Unicorns. The report said that India is currently home to three decacorns, companies with valuation of over $10 billion – Byjus, Paytm and Flipkart.

The 66 unicorns in India have a total revenue of over $15 billion, while they employ over 3.3 lakh people. India had added 12 unicorns last year in 2020.

The Nasscom report said ecommerce, SaaS (Software as a Service) and fintech firms account for more than 60% of the total unicorns in the country. These sectors also account for 60% of the total aggregated funding. Apart from these firms, companies operating in the edtech and logistics space are the next in terms of number of unicorns.

“The Indian tech start-up base is witnessing a steady growth at a scale of 8-10 per cent year-on-year growth. Covid-19 has accelerated digital adoption and the shift to online in the country. This has created new opportunities for tech start-ups that are capitalising on this opportunity,” Nasscom had said.

Previous articleAkamai Acquires Guardicore To Extend Zero Trust Solutions to Help Stop Ransomware
Next articleNVIDIA CEO Jensen Huang To Unveil New AI Technologies, Products In GTC Keynote In November

LEAVE A REPLY

Please enter your comment!
Please enter your name here