The coming year is going to be very good for startups in India. According to a report, the valuation of 51 high-growth start-ups is likely to be between $500 million to $1 billion in the next three years. According to the ASK Private Wealth Hurun India Future Unicorn Index 2023 report, these 51 startups have raised $9.6 billion in funding.
When does a startup become a unicorn?
A company is considered a unicorn when that company attains a market valuation of $1 billion. These categories of start-ups are known as Gazelles. The Hurun Report defines ‘Gazelle’ as a start-up established after 2000, which has the potential to become a unicorn in three years.
Will give new path to startup economy
Anas Rehman Junaid, founder and chief researcher of Harun India, says that gazelles and cheetahs give a new path to the economy of the future. What are they doing and where are they doing. It gives an indication of which areas are attracting the world’s top young talent and smartest capital and which country or city has the best startups. The Hurun Report defines a ‘cheetah’ as a start-up established after 2000, which has the potential to become a unicorn in the next five years.
In which sectors are startups going to be unicorns?
In terms of becoming a unicorn, the fintech sector is at the forefront with 11 startups becoming unicorns. This is followed by six from the SaaS sector. There are four such startups each in the e-commerce and agritech sectors. Apart from this, Ather Energy, an electric vehicle (EV) start-up, Zepto, a commercial start-up, an edtech start-up and Leap Scholar. These companies are bringing innovation in various industries and focusing on growth.
These companies hoping to become unicorns
There are a total of 51 companies such as Ather Energy, Chhalaang Scholar, Zepto, Inspection.ai, Ninjacart, Rapido, CleverTap, Sklar, GreyOrange, Medicabazaar and Smartworks. These companies have attracted a large number of investors and raised good funding.
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