100+ new unicorns within 4 yrs: Hurun

BENGALURU: India may have 122 new unicorns (startups valued over $1 billion) in 2-4 years in 25 cities, in accordance with ASK Personal Wealth Hurun India Future Unicorn Index 2022.
India at present has about 100 unicorns, the precise quantity relying on whether or not one consists of firms like Zoho and Zerodha, each of that are doing exceedingly nicely however haven’t raised exterior capital and therefore haven’t gone by way of a valuation course of.
Hurun Analysis stated India’s future unicorns are at present price $49 billion, a rise of 36% in comparison with final yr. It stated 17 gazelles and seven cheetahs from final yr’s index hit unicorn valuation this yr. Gazelle is a time period Hurun makes use of for startups most definitely to change into unicorns within the subsequent two years, whereas cheetahs are those who may change into unicorns within the subsequent 4 years.
The cumulative valuation of gazelles featured within the index elevated by greater than 54% year-on-year to $31 billion. Mixed, the 51 gazelles within the index have obtained $10 billion in funding. Logistics tech startup Shiprocket leads the gazelle pack. Hurun stated on-line furnishings retailer Pepperfry, a cheetah, may skip the gazelle stage and change into a unicorn in some months.
Rajesh Saluja, CEO of ASK Wealth Advisors stated, “India has emerged because the third-largest ecosystem for startups after US and China and noticed a document 44 startups turning into unicorns in 2021.”
Anas Rahman Junaid, MD and chief researcher in Hurun India, stated, “In only one yr, the variety of unicorns has elevated by 65%, the variety of gazelles has elevated by 59% to 51, and the variety of cheetahs has elevated by 31% to 71. Most likely, the pandemic has accelerated the disruption of conventional companies and fostered the emergence of startups. The ecosystem is progressively attaining the requisite maturity and resilience.”
There are some international financial considerations, he stated. Some Indian startups, he famous, are implementing layoffs and cost-cutting measures, fuelling hypothesis of an ecosystem downturn.