March 1, 2021

startups: 21 Indian startups are ‘unicorns’ valued over $1 bn, only a tenth of China’s: Examine

MUMBAI: India is residence to 21 unicorns, or startups with over $1 billion in valuation every, and 40 extra of such corporations have been based abroad by individuals of Indian origin, a report mentioned on Tuesday.

Amid speak of regulating investments from the northern neighbour, the research discovered that three Chinese language traders have backed 11 of the Indian unicorns.

With the 21 unicorns collectively valued at $73.2 billion, India is the fourth largest when it comes to unicorns, behind the US, China and the UK, as per the Hurun World Unicorn Record.

The variety of Indian unicorns is only a tenth of China’s 227, it mentioned, including China has solely 16 companies began outdoors the nation by its diaspora as in opposition to the 40 in India. The valuation of the unicorns based globally by Indians is $99.6 billion, led by the fintech Robinhood at $8.5 billion.

“Of the 61 unicorns based by Indians, an enormous two-thirds are based mostly outdoors of India, predominantly Silicon Valley within the USA, while solely 21 are based mostly in India,” Hurun Report chairman and chief researcher Rupert Hoogewerf mentioned.

He added that the founders of those 40 unicorns must be acknowledged as a lot as somebody like Google’s chief government Sundar Pichai and Microsoft’s Satya Nadella.

The analysis pegged the general variety of unicorns at 586 internationally in 29 international locations and 145 cities.

A 3rd of the 21 Indian unicorns, which embrace Paytm, Oyo Rooms, Byju’s Ola Cabs and so on, are within the e-commerce sector and Bengaluru is the unicorn capital of India being residence to eight such enterprises, it mentioned.

The youngest Indian unicorn is the 2017-founded Ola Electrical, adopted by Udaan and Swiggy, it mentioned, including on common, it takes seven years for a startup to realize unicorn standing in India as in opposition to 5.5 years in China and 6.5 years within the US.

Even because the ties with China get frosty, the research discovered that Chinese language traders Alibaba (5), Tencent (3) and DST World (3) have invested in 11 Indian unicorns. Japanese investor Softbank takes the lead with 9 investments whereas USA’s Tiger World has 5 such bets.

The Indian Institutes of Know-how (IITs) have emerged because the lead supply of unicorn founders, with 36 of the founders being from these institutes and IIT-Delhi being essentially the most most popular one.

From a gender perspective, it’s a extremely unfavourable ratio, with 104 Indian unicorn founders being male and solely 5 of them being girls, it mentioned.