In the race of unicorns, India left behind countries like China-Canada-UK in the second place, raised record funds
In the case of adding unicorns in the September quarter, India has left behind many developed countries like China, UK, Canada. This has been claimed in the report of PwC India. According to this report, India has added 10 unicorns in the September quarter. The report further said that in the September quarter, Indian startups have raised about $ 11 billion in funds through 347 deals. For the first time in any quarter, more than $10 billion has been raised by Indian startups. According to industry reports, Indian startups have raised more than $24 billion in funds in the first three quarters of 2021.
In this quarter, China has added 7, Hong Kong has added four, UK and Canada have added 4 unicorns. This clearly shows that massive investment has come in India. America is at the first place in this list. The US added a total of 68 unicorns in the September quarter. The government has started a program to support 100 start-up companies in the IT sector. Under this, the government aims to prepare 100 unicorns. Under this program start-up units will be provided with initial capital, protection and market access.
According to the report, startups have adopted digital very fast. Apart from this, the average size of the deal has also increased. 84 per cent of the funding activity was done in late-stage deals, while 61 per cent is early stage funding. The Reserve Bank of India had said in its bulletin of August 2021 that there are about 100 unicorns in India at present. In 2019, about 10 companies were included in this list. In 2020, 13 companies were included in this list. Swiss investment bank Credit Suisse says that there are 336 companies listed in India with a market cap of over $1 billion. There are around 100 unicorns in it. The total market cap of these unicorns is around $240 billion. India ranks third in terms of unicorns after America and China.
The focus of the government is on startups at this time. These companies are growing very fast and the interest of foreign investors is also very high in such companies. Modi government is working on creating a healthy ecosystem for startups in India.
