‘Indian startups raised $24 billion; 42 unicorns last year’

Indian startups raised $24.1 billion in complete from numerous traders over the last 12 months whereas as many as 42 new startups crossed the valuation of $1 billion, making them unicorns, a report by business physique National Association of Software and Service Companies (Nasscom) confirmed.
The nation has about 70 energetic startups which have crossed the valuation of $1 billion or extra, the report stated. Globally, India remained on the quantity three spot, behind the US and China, which had 444 and 301 startups that had valuation of $1 billion or extra. These two nations added 260 and 146 unicorns in 2021, respectively. Over 2,250 startups have been added in 2021, over 600 greater than the earlier 12 months. it added. While 11 startups in 2021 took the preliminary public providing (IPO) route to lift cash from the markets, Nasscom expects not less than 16 startups to take the IPO route to lift cash in 2022.

Established startup hotspots akin to Delhi and the National Capital Region, Bengaluru, Chennai, Pune, Hyderabad and Mumbai have been house to just about 71 per cent of the startups in 2021, whereas different smaller centres or rising startup hubs akin to Jaipur, Kochi, Kolkata, and Chandigarh accounted for 29 per cent. “The performance of the Indian startup ecosystem in 2021 has proved the resilience and dedication being put by multiple startups across segments,” Nasscom president Debjani Ghosh stated. Though the variety of ladies within the startup system remained low, there have been encouraging indicators.