January 22, 2022 3:03:33 am
Indian startups raised $24.1 billion in total from various investors during the last year while as many as 42 new startups crossed the valuation of $1 billion, making them unicorns, a report by industry body National Association of Software and Service Companies (Nasscom) showed.
The country has about 70 active startups which have crossed the valuation of $1 billion or more, the report said. Globally, India remained at the number three spot, behind the US and China, which had 444 and 301 startups that had valuation of $1 billion or more. These two countries added 260 and 146 unicorns in 2021, respectively. Over 2,250 startups were added in 2021, over 600 more than the previous year. it added. While 11 startups in 2021 took the initial public offering (IPO) route to raise money from the markets, Nasscom expects at least 16 startups to take the IPO route to raise money in 2022.
Established startup hotspots such as Delhi and the National Capital Region, Bengaluru, Chennai, Pune, Hyderabad and Mumbai were home to nearly 71 per cent of the startups in 2021, while other smaller centres or emerging startup hubs such as Jaipur, Kochi, Kolkata, and Chandigarh accounted for 29 per cent. “The performance of the Indian startup ecosystem in 2021 has proved the resilience and dedication being put by multiple startups across segments,” Nasscom president Debjani Ghosh said. Though the number of women in the startup system remained low, there were encouraging signs.
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