New Delhi: As per the Hurun India Future Unicorn List 2021, released by the Hurun Research Institute, India is the third largest Unicorn ecosystem in the world after US and China. This is a list of the most valuable private equity or venture capital-funded companies in India founded after 2000, ranked according to their latest funding round valuation. In order to enter the list, the start-up is required to have a value of Rs 1,500 crore.
‘India is the third largest Unicorn ecosystem in the world and the number of Gazelles and Cheetahs in India is growing at an exponential pace. Over the last year, India added circa 3 Unicorns every month. Although the Indian start-up ecosystem is growing, some of the start-ups, who reach a certain scale migrate from India, in search for better regulatory incentives and risk capital availability. For instance, some of the best Enterprise SaaS companies are born in India but ‘flipped’ to the USA. This is a lost opportunity for India and it is important that these start-ups are incentivized to stay back in the country’, said the report.
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‘Preparing the Hurun India Future Unicorn List 2021 has been one of the most daunting tasks, primarily due to the positive hyperactivity in Indian start-up ecosystems. For instance, 5 start-ups that we had as Cheetahs at the beginning of our research, jumped straight to Unicorn valuations. The list has inputs from India’s start-up investor ecosystem including some of the top VC funds and hence could serve as a good source for investors and family offices to understand more some of the most exciting start-ups in the country’, said Anas Rahman Junaid MD and Chief Researcher of Hurun India.
‘2021 also registered start-up IPOs, starting with Nazaara Tech, followed by Zomato and others who have filed including Paytm, Freshworks, Nykaa and so on. IPOs present exit opportunities for investors and encourage more Indian High Networth Individuals to allocate a meaningful portion of their investment into start-ups’, he added.
As per the report, at present, India has around 600 million internet users and this will grow to 900 million users by 2025. This will support rise of technology start-ups, Fintech companies operating in mobile payments, insurance, blockchain, stock trading and digital lending.
As per the study, currently, India is home to 51 Unicorns, up by 25 in 2021, and 32 Gazelles and 54 Cheetahs. The country added circa 3 Unicorns every month over the last year. India’s Unicorns are now worth US Dollar 168 billon and India’s future Unicorns are worth US dollar 36 billion.
The top investors in the Gazelles and Cheetahs in the Hurun India Future Unicorn List 2021 are Sequoia, followed by Tiger Global with 37 and 18 investments respectively. As per the list, 11 co-founders are under the age of 30 and 15 above the age of 50.
Online retail store Zilingo is the most valuable Gazelle and online furniture platform Pepperfry is the most valuable Cheetah. As per the report, Bengaluru is the start-up capital of India followed by Delhi NCR (18) and Mumbai (13).
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