More than 50 startups are ready to become unicorns, in 2022 their number will exceed 100
According to a report by advisory firm PwC India, about 50 startups in India can become unicorns in 2022, that is, their valuation can increase to more than one billion dollars. The report, which came on Monday, said that in 2022, the total number of startups with a valuation of more than one billion dollars could exceed 100. There was a huge increase in valuation of listed and unlisted companies in India during 2021 and the number of unicorns increased to 68 during this period. The country added 43 unicorns in 2021. According to PwC India, more than USD 10 billion was invested in the Indian startup ecosystem in the October-December quarter alone.
The firm's partner Amit Navka said that in the calendar year 2021, growth level deals increased rapidly, indicating a strong base of companies with the potential to achieve unicorn status. He added that the market sentiment towards startups is favorable, and the number of unicorns will exceed 100 by the end of 2022. Earlier in December 2021, the report of Hurun Research Institute came. According to this report, India is at number three after America and China in terms of unicorns. However, it is far behind these two countries. According to a PwC report, in 2021, Indian startups raised more than $ 35 billion under 1000 rounds of funding. Only in Bengaluru and NCR, venture capitalists have funded three-fourth of the total funding. Companies like KhataBook, Ninjakart, Ecom Express, Pepperfry have so far raised more than $100 million in funds.
The contribution of startups in the country's economy and employment is increasing rapidly. Ashwini Jain, Co-Founder and CEO, Foreign Admits said that startups will play a big role in realizing the dream of “Make in India” and it is important to understand the role of startups. Startups and their innovative ideas also need proper funding and budget to contribute to the economy and localisation. With better startup conditions in the country, many problems related to the economy will be solved. He said that the government should consider giving relief for startups in this budget. This includes cutting GST rates, giving more funding to startups and getting easier access to public data. Startups should also get equity and interest free loans in the development stage so that they can contribute more to the country's economy.
