This year, 21 firms have already joined the unicorn club in just eight months. Until August 10, 2021, there are 63 Indian IT startups with a valuation of more than $1 billion. Until July, just over $20 billion had been raised, with multiple rounds expected to produce Indian unicorns in 2021.
CRED, ShareChat, Groww, Gupshup, Meesho, and PharmEasy were among the eight firms that joined the unicorn club in April 2021. Four firms have already joined the unicorn club this month (August 2021), including the first-ever crypto unicorn. With its $370 million Series E round this week, BharatPe became India’s 18th unicorn, followed by Mindtickle, upGrad, and CoinDCX.
With its $370 million Series E round this week, BharatPe has become India’s 18th unicorn. Mindtickle, upGrad, and crypto exchange CoinDCX were among the first to join. Four firms have already joined the unicorn club this month (August 2021), including the first-ever crypto unicorn.
India will have more than 100 unicorns by 2023, significantly sooner than Inc42 Plus predicted in its previous forecast of 2025. In India’s unicorn club, eCommerce, fintech, and enterprise technology are among the most popular areas. Flipkart, Snapdeal, FirstCry, Moglix, Infra.Market, Udaan, Paytm Mall, Droom, and others are among the 12 e-commerce unicorns.
