India’s startup ecosystem created a record nine unicorns in 2019, despite sentiments turning cautious in the December quarter, according to a report from startup data tracker Tracxn.
Unicorns refer to privately-held companies with a valuation of a billion dollars or more.
Last year, eight unicorns had emerged in India, while in 2017 and 2016 there were 1 and 3, respectively, the report said. Startups in the country are achieving scale far more briskly with investors putting in large sums with a long-term view.
The unicorns of 2019 include online grocer BigBasket, fantasy gaming platform Dream11, e-commerce logistics firm Delhivery, eyewear retailer Lenskart, trucking logistics firm Rivigo, cloud-based contract management firm Icertis, data management firm Druva, Ola Electric, the electric vehicle arm spun off from the ride-hailing platform, and Zoho, a bootstrapped business and productivity software firm.
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Most of these unicorns were created in the first half of the financial year, or until September, when investors continued to be bullish on high-growth loss-making startups.
Source: livemint
