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Indian Startups Raised Record $24 Billion, 42 Unicorns In 2021: Report
Writer: Tashafi Nazir
For most people, journalism sounds hectic and chaotic. For her, it's a passion she has been chasing for years. With an extensive media background, Tashafi believes in putting efforts on presenting a simple incident in the most interesting way.
India, 22 Jan 2022 6:25 AM GMT
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While he is a massive sports fanatic, his interest also lies in mainstream news and nitpicking trending and less talked about everyday issues.
Creatives : Tashafi Nazir
For most people, journalism sounds hectic and chaotic. For her, it's a passion she has been chasing for years. With an extensive media background, Tashafi believes in putting efforts on presenting a simple incident in the most interesting way.
According to a report by the industry body National Association of Software and Service Companies (Nasscom), India has nearly 70 active startups which have surpassed the valuation of $1 billion or above.
Witnessing a two-fold increase over pre-COVID levels, Indian startups raised a record $24.1 billion in total from various investors during 2021 while 42 new startups crossed the valuation of $1 billion, making them unicorns.
According to a report by the industry body National Association of Software and Service Companies (Nasscom), India has nearly 70 active startups which have surpassed the valuation of $1 billion or above.
Globally, the country remained at the number three position, behind the US and China, which had 444 and 301 startups that had a valuation of $1 billion or more. These two nations added 260 and 146 unicorns last year, respectively.
"With record breaking funding, an increase in the number of unicorns, jobs being created in the near term, the Indian startup ecosystem's future looks even brighter going ahead in 2022," Nasscom president Debjani Ghosh stated.
Over 2000 Startups Added In 2021
More than 2,250 startups were added last year, over 600 more than 2020. the report said. While 11 startups took the initial public offering (IPO) route to raise money from the markets last year, Nasscom expects at least 16 startups to take the IPO route to raise funds in 2022, The Indian Express reported.
Established startup hotspots including Delhi and NCR, Bengaluru, Chennai, Pune, Hyderabad and Mumbai were home to around 71 per cent of the startups last year, while other smaller centres or emerging startup hubs like 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," Ghosh said.
Though the number of women in the startup system remained low, there were encouraging signs.
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