Despite 'Start Up India', Under 10% Of Unicorns Globally Are Indian

by Arjun Banerjee 5 months ago Views 4541

BYJU's Most Valued Indian Startup At #13 Globally
Despite the hype over the “Start Up India’ initiative of the Modi government, India start-ups do not figure prominently in the list of unicorn startups, i.e., private companies whose valuation is more than $1 billion. There are around 900 unicorn startups in the world at present. 

Among the 35 start-ups valued over $10 billion, only Byju’s, the “ed tech” startup of India, figures in the list at the 13th spot, joining the list in July 2017. Byju’s current valuation is at $21 billion and it is India’s largest unicorn start-up. Its main investors are Tencent Holdings, Lightspeed India Partners, and Sequoia Capital India. Sequoia Capital is a tech venture capital firm and early investor in companies such as Apple, Facebok, Google, Oracle, and has invested in 9 of 2021’s top unicorn start-ups.

ByteDance, the Chinese parent company of the popular video sharing app TikTok banned by India, is at the top of the list at $140 billion, joining the unicorn club in April 2021. 

Following BYJU’s is OYO Rooms with a valuation of $9.6 billion, Dream 11 at $8 billion and Ola Cabs at $6.2 billion. India has a total of 82 unicorn start-ups as of December 4 2021 according to Inc42, a business publication, which comes to 9.11% of all unicorn ventures globally. This year, 483 companies were added to the ‘unicorn’ list globally, out of which 38 were Indian, which means that 7.8% of all unicorn start-ups that entered the list in 2021 are Indian.

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