Desi startups lap up USD 63 bn since 2016, spawn 27 unicorns

Desi startups lap up USD 63 bn since 2016, spawn 27 unicorns

According to them, this makes India the third largest tech startup ecosystem in the world. Of the total inflows, nearly half came in 2019 alone -- USD 34 billion and USD 17 billion in 2020 till May.

PTIUpdated: Monday, September 28, 2020, 11:00 PM IST
article-image

The startups ecosystem has raised as much as USD 63 billion in growth capital between 2016 and 2020, when they spawned 27 unicorns, according to the data collated by the Indian Private Equity and Venture Capital Association and Praxis Global Alliance.

According to them, this makes India the third largest tech startup ecosystem in the world. Of the total inflows, nearly half came in 2019 alone -- USD 34 billion and USD 17 billion in 2020 till May.

The time period also created as many as 27 unicorns in the country. Unicorns are those with USD 1 billion or more valuation.

Tech-enabled players continue to drive investors' interest and have dominated the early stage funding landscape here.

According to Rajat Tandon, the president of Indian Private Equity and Venture Capital Association, "This is a great report covering data and insights on our booming tech startup ecosystem, carrying a fresh perspectives about developers and service demand.

"The growth stage startup and venture capital ecosystem is poised for the next leap with an increasing number of unicorns, soonicorns and minicorns, even amidst the pandemic." Madhur Singhal, managing director of Praxis Global Alliance said, "The domestic startup ecosystem is primed for a renewed phase of growth. Ecommerce and tech startups have shown resilience during the pandemic fundamentally altering their unit economics to become more sustainable.

Praxis Global is a next-gen management consulting and business research services firm delivering practical solutions to business problems by combining domain practitioner expertise, AI-led research approaches, and digital technologies.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byjus's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29...

A Big Relief For Byjus's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29...