Startup ecosystem report card: 44 unicorns with $106 billion value in 10 years; this many jobs created

By | February 23, 2021

Startup ecosystem report card: 44 unicorns with $106 billion worth in 10 years; this many roles created

Bengaluru was house to 41 per cent of Indian unicorns whereas 34 per cent had been based mostly in Delhi NCR. (Picture: Bloomberg)

India’s tech startup ecosystem is roughly 15-year-old with the likes of JustDial and Naukri.com amongst its early lot of web enterprises. It took round one other 15 years for the nation to get its first unicorn – MakeMyTrip in 2010. Since then, the ecosystem has churned out 44 such one-horned digital entities which have cumulatively created round $106 billion worth up to now and over 1.4 million direct and oblique employment yearly, in response to enterprise capital fund Orios Enterprise Companions. Amongst distinguished early-stage VCs, Orios was related to startups together with Ola, Druva, Zostel, Fairly Secrets and techniques, PharmEasy, and extra.

InMobi, Flipkart, Ola, Paytm, Byju’s, OYO, Swiggy, Zomato, PhonePe, Lenskart, and extra had added to the unicorn record over the previous decade together with the latest ones equivalent to Unacademy, Look, Nykaa, Zerodha, FirstCry, and so forth. The ecosystem has already gone by way of cycles of growth, bust, and funding winter within the final 10 years fueled by valuation bubble, buyers’ optimism due to fear-of-missing-out (FOMO) syndrome, failure of a number of rising startups, and extra. Publish-2015 correction in how buyers have a look at startup valuations, the main target has been regularly shifting to profitability whilst many main startups proceed to burn important capital yearly.

Additionally learn: Zomato now practically $2B extra beneficial than Swiggy; valuation of India’s largest foodtech startup up by $1.5B

Importantly, the common time taken by startups to hit the $1-billion valuation mark stood at 8 years. Nonetheless, that is declining. From 8.7 years taken by startups based throughout 2007-09 interval to turn out to be a unicorn, the length decreased to 2.4 years for startups launched throughout 2016-17, the report by Orios titled Indian Tech Unicorn famous. Whereas fintech phase noticed the utmost quantity of unicorns (11), retail and software-as-a-service posted six and 5 unicorns respectively. Information analytics, on-line classifieds, logistics, journey, meals, and training had been different segments churning out multiple unicorn.

“Most of those (unicorns) are backed by expertise and that’s the key differentiating issue between unicorns of the twenty first century vs the prior period. We’re proud to be related to 3 unicorns – Ola, Druva, Pharmeasy since their early days and sit up for being a part of one other 3-5 unicorns over the following few years,” stated Rehan Yar Khan, Managing Accomplice, Orios Enterprise Companions. Bengaluru had a majority – 41 per cent of those unicorns whereas 34 per cent had been based mostly in Delhi NCR, 14 per cent in Mumbai, and the remainder in Pune, Chennai, and Hyderabad.

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