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India’s leading early-stage venture fund Orios Venture Partners has released a report on ‘Indian Unicorns’ which highlights the performance of the Unicorns across the vertical and the impact they have made on the Indian economy.
The report titled ‘The Indian Tech Unicorn Report 2020’ focused on the startups who reached the milestone of Unicorn and have contributed significantly to the startup ecosystem.
Report Highlights:
- Having created 1.4Mn+ jobs annually (direct & indirect employment), these 44 unicorns of the likes of MakeMyTrip, InMobi, Paytm, Byjus, Cars24, Ola, and others have cumulatively created ~$106BN Value for the Indian startup ecosystem.
- A maximum number of unicorns are from Fintech sectors, followed by Retail and SaaS, (Other spaces include logistics, data analytics, travel, food, and gaming).
- 41% of unicorns are from the startup capital of Bengaluru, closely followed by Delhi at 34% and Mumbai at 14%.
- 86% of unicorn founders are engineers with the maximum of them belonging to the IITs.
Commenting on the report, Rehan Yar Khan, Managing Partner, Orios Venture Partners said ” Our report shows that the Indian startup ecosystem has generated tremendous value for founders, employees, investors, and the economy. Most of these are backed by technology and that is the key differentiating factor between unicorns of the 21st century vs the prior era. We are proud to be associated with 3 unicorns – Ola, Druva, Pharmeasy since their early days and look forward to being part of another 3-5 unicorns over the next few years.”
The report also delves into the average period that a company has taken to become a unicorn which is an average of eight years. The trend that is noticeable here is that time has been reducing, as founders with prior founding or startup experience are coming into play.
“Startups like naukri.com, MakeMyTrip which had been founded pre-2005, have taken 14+ years to achieve that status, while Zomato, Flipkart, and Policy Bazaar (2007-2009) have taken almost 8.7 years. Nykaa and OYO (2012-13) have taken even less time at 5.8 years while Udaan and OLA Electric (2016-17) have taken only three years to achieve that status,” the report said.