Already home to 66 unicorns in September, India has just added another 13 to their rapidly expanding list. Beating dominant economies like China, Hong Kong, the UK and Canada, India’s success in unicorns – a private firm with a valuation of over $1 billion – has taken the investment industry by storm – and it looks here to stay.
According to figures, Indian startups raised $6.1 billion this quarter, with a majority of the funding (46% of total funding) aimed at EdTech and FoodTech companies. Additional research shows that there was a stronger focus on late-stage startups, with funding accounting for 50% of the deal value.
While powerhouse countries like the US and China still hold the highest number of unicorns; the exponential growth of the Indian economy, particularly through start-up investments, is tremendously exciting. National research from JPIN shows that in 2021, 13.8 million investors in the UK alone are looking to invest in emerging markets such as India. This places India in prime position to benefit from foreign investment, but also allows other countries to profit off the strength of India’s emerging market.
Gaurav Singh, co-founder of JPIN comments: “India has proved that it has what it takes to catch up with the strongest economies in the world like China and the US, and it looks likely to continue in the next 10 years. The incredible potential that exists in a country of over a billion people which is growing at such a pace is tremendously exciting to investors all over the world.”
“We have worked with various unicorns in the past, with some of our current startups we have invested in having the potential to reach unicorn status over the next few years. Our goal is not only to help these firms reach their potential through sourcing growth finance but also to offer investors access to the returns available from this sector. We are hugely excited to see the progress made in the next few years and beyond.”