• About
  • Advertise
  • Contact
  • Login
NRI Affairs
Youtube Channel
  • News
  • Video
  • Opinion
  • Culture
  • Visa
  • Other
No Result
View All Result
  • News
  • Video
  • Opinion
  • Culture
  • Visa
  • Other
No Result
View All Result
NRI Affairs
No Result
View All Result
Home News

India new unicorns hub: 31 unicorns in 2021 and counting

NRI Affairs News Desk by NRI Affairs News Desk
October 18, 2021
in News
Reading Time: 3 mins read
A A
0
India new unicorns hub: 31 unicorns in 2021 and counting

Image: Pixabay

150
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter
Advertisements

Over the years, India has shown its potential as an attractive market to do business by offering a business-friendly ecosystem. Within 10 months of 2021, 31 startups made it to the Unicorn list. India has produced more than three unicorns in a month on an average this year. India saw its first health-tech, crypto, e-pharmacy and social commerce unicorn this year.

Unicorn Rush, which started this year with Bengaluru-based startup Digit Insurance, has covered diverse areas ranging from fintech to e-shopping and even cloud kitchens. Rebel Foods, which operates a network of cloud kitchen brands such as Faasos and Behrouz Biryani, became the first to enter the unicorn club from the niche category that has found its place during the pandemic.

What Is a Unicorn?

Unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion.

What triggered the unicorn rush during 2021?

While work from home during Covid fueled the growth of digital businesses in India, the incident also resulted in a long unicorn list. Mainly three factors, a thriving digital payments ecosystem, large smartphone user base and digital-first business models, have come together to attract investors.

Tech companies, which have become household brands, are contributing to the unicorn boom in India, as smartphone penetration and digitization of commerce in every aspect of life have increased manifold during the pandemic. Besides fintech, e-commerce grocery, SaaS and marketplace players are contributing the most to the unicorn universe.

No. of unicorns in 2021

1. Fintech – 7
2. E-commerce – 4
3. SaaS – 4
4. Marketplace – 4
5. Crypto – 3
6. Edtech – 3
7. B2B E-commerce – 2
8. Social Media – 2
9. Gaming – 1
10. D2C – 1
11. Foodtech – 1

Advertisements

31 new entrants to the coveted US$ 1 billion club

Digit Insurance, Innovaccer, Five Star Finance, Meesho, Infra.Market, CRED, Pharmeasy, Groww, Gupshup, Mohalla Tech, Chargebee, Urban Company, Moglix, Zeta, BrowserStack, BlackBuck, Droom, Ofbusiness, BharatPe, MindTickle, upGrad, CoinDCX, Eruditus, Zetwerk, Grofers, Mobile Premier League, Apna, Vedantu, Licious, CoinSwitch Kuber and Rebel Foods.

Role of Digital India in making startups into unicorns

Union Commerce and Industry Minister Piyush Goyal said that India is poised to become one of the largest digital markets in the world. During the Second Global Fintech Fest-2021 address, he said, “At 87 per cent, India has the highest Fintech adoption rate in the world against the global average of 64 per cent.”

“As of May 2021, India’s United Payments Interface (UPI) has seen the participation of 224 banks & recorded 2.6 billion transactions worth over $68 billion and the highest ever, more than 3.6 billion transactions, in August 2021,” said Union Minister Piyush Goyal.

“Over 2 trillion transactions were processed using the AePS (Aadhar-enabled payment system) last year,” he added.

There are about 640 million internet users in the country. Of this, 550 million are smartphone users. Additionally, digital payments have seen a growth of 30.19 per cent for the financial year ended March 31, 2021.

With the next 500 million internet users coming from smaller cities, the growth of the digital business is about to grow from here and investors are trying to be a part of it.

Source: PBNS

India to issue 500,000 free tourist visas
Share60Tweet38Send
NRI Affairs News Desk

NRI Affairs News Desk

Related Posts

Seattle Councilmember Kshama Sawant pushes anti-caste discrimination law in US state
News

Seattle Councilmember Kshama Sawant pushes anti-caste discrimination law in US state

January 27, 2023
Hindenburg shorts Adani Group; flags debt and accounting concerns
News

Hindenburg shorts Adani Group; flags debt and accounting concerns

January 28, 2023
European Parliament Member expresses concern over human rights violations in India
News

European Parliament Member expresses concern over human rights violations in India

January 27, 2023
Next Post
Hindus in Bangladesh

"We are heartbroken": Hindus for Human Rights condemns attacks on Hindus in Bangladesh

Domestic Violence

"I have officially escaped domestic violence for good"

Visa Australia India

Over 2,800 Indians with skilled regional visa waiting to arrive in Australia

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Australian universities

International students and working-holiday makers will have visa charges waived: Scott Morrison

1 year ago
Australia's working holiday visa age cap likely to be increased to 50

Australia’s working holiday visa age cap likely to be increased to 50

3 weeks ago
Five measures introduced by the United States to help immigrants

Five measures introduced by the United States to help immigrants

8 months ago
Padma Bhushan to Dr Sanjaya Rajaram – The scientist who revolutionised wheat production across the world

Padma Bhushan to Dr Sanjaya Rajaram – The scientist who revolutionised wheat production across the world

10 months ago

Categories

  • Literature
  • Multimedia
  • News
  • nriaffairs
  • Other
  • People
  • Top Stories
  • Uncategorized
  • Views
  • Visa

Topics

Air India Australia california Canada caste CECA COVID COVID-19 cricket ECTA Europe free trade FTA Geeta Germany Hindu Human Rights immigration India india-australia Indian Indian-origin Indian Students London Melbourne Migration Modi Muslim New Zealand NRI NSW oci passport quarantine Singapore Sydney travel UAE uk Ukraine US USA Victoria visa women
NRI Affairs

© 2021 NRI Affairs.

Navigate Site

  • About
  • Advertise
  • Contact

Follow Us

No Result
View All Result
  • News
  • Video
  • Opinion
  • Culture
  • Visa
  • Other

© 2021 NRI Affairs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT