On Wednesday, Bengaluru headquartered online learning platform Vedantu raised $100 million at a valuation of $1 billion, becoming the third edtech company to enter the coveted unicorn club in 2021. The following day, unicorns like Ola Electric, Ofbusiness and Meesho received an aggregate amount of $900 million from investors. It seems nothing can stop India’s new-age companies from luring domestic and foreign funds.
According to recent data by Venture Intelligence, Indian unicorns have received a record $20 billion in investments so far this year. The July-September 2021 quarter saw over $10 billion (across 28 deals) being invested in such companies. Out of the total 66 unicorns the country has, nearly one-third (29) were minted in the first nine months of 2021.