According to a report by the Hurun Research Institute titled Hurun India Future Unicorn Index 2022, India is predicted to have 122 new unicorns in the following 2-4 years. The total worth of these potential unicorns is currently 49 billion US dollars. When a startup is valued at $1 billion USD, it is considered to be a Unicorn.
- The city of Bengaluru, which currently has 33 unicorns, will receive 46 new additions, followed by Delhi NCR with 25, Mumbai with 16, Chennai with 5, and Pune with 3. Bengaluru currently has the most unicorns in the nation. It’s anticipated that the remaining unicorns will appear in 20 additional cities.
- Tiger Global has invested in 27 of these potential Unicorns, followed by the international venture capital firm Sequoia Capital, which has invested in 39 of them.
- The majority of these prospective unicorns were founded in 2015.
About the Survey:
- The survey states that 63% of these businesses focused on consumer-facing businesses, while the remaining 37% belonged to the business-to-business (B2B) industry that provided services to the financial services, logistics, healthcare, and education sectors.
- The report has divided would-be unicorns into three groups: Gazelles, which are startups with the greatest likelihood of becoming unicorns in the next two years, and Cheetahs, which are startups with the potential to become unicorns in the following four years.
- It claimed that the pandemic had sped up the rise of startups.
- Experts claim that a record 44 unicorns emerged in 2021, making India the third-largest startup ecosystem in the world.
- In addition, the experts noted that there are now 65 percent more unicorns, 51 percent more gazelles, and 71 percent more cheetahs in the nation.
- According to the report’s findings, product and market fit will continue to be what motivates Indian businesses.