Unicorns are great but not enough for India

India is a home to over 50,000 startups, but only around 72 have managed to reach the unicorn club with a billion-dollar valuation as of November 2021, which is between 8-9% of the unicorns globally. India’s unicorns are now valued at approximately $168 billion, and we now have the world’s third-largest unicorn ecosystem, after the United States and China.

Yesterday, cosmetics and fashion platform Nykaa debuted on stock exchanges, delivering a gain of about 96% over issue price and a valuation of almost $14 billion. More unicorns such as PolicyBazaar, Delhivery and Paytm are using IPOs to raise more capital. Interestingly, Indian unicorns such as Digit, Infra.Market, Gupshup, ShareChat and PharmaEasy secured follow-on financing from private investors within two to six months of joining the unicorn club in 2021. This is in stark contrast to the previous generation of unicorns, which took significantly longer to do so.

Read the complete article on Times of India >

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