50 more startups on wings to be unicorns by 2022-end: report
India has 50 startups with the potential to reach the coveted “unicorn” status in 2022 and by the end of the year, the list of new-age companies valued at over $1 billion will be d at least 100, according to a report from a consulting firm said Monday.
In 2021, which saw a huge surge in corporate valuations in the listed and unlisted space on the back of abundant liquidity, according to some observers, India added 43 startups to the list and the number of unicorns soared to 68 at the end of the year.
More than $10 billion was invested in India’s startup ecosystem in the October-December quarter alone, according to the PwC India report.
“We can see that the base of growth-stage companies and late-stage deals have improved significantly over CY21, illustrating a stronger base of companies with the potential to reach unicorn status,” said the company’s partner for deals and startups, Amit Nawka. .
He added that market sentiments are supportive of startups, and when coupled with the broad base of startups, the number of unicorns will go “well beyond” 100 by the end of 2022.
A December 2021 report from the Hurun Research Institute had said that India is the world’s third largest unicorn hotbed, but far ahead of the United States and China.
PwC’s report says $35 billion was raised by Indian startups in more than 1,000 funding rounds in 2021, up 1.5 times from the previous year. The Edtech, Software as a Service, and Fintech sectors saw the most activity.
Growth and late-stage deals accounted for 85% of total funding attracted by startups in 2021.
Bengaluru and the National Capital Region (NCR) recorded nearly three-quarters of total funding from venture capital and private equity funds, he said.
In his list of 50 potential unicorns, he placed companies like Khatabook, Whatfix, Practo, Ninjacart, Inshorts, Ecom Express, Pepperfry and Livspace among the candidates due to their track record of raising over $100 million so far. day.