Next year is going to be very good for startups in India. According to a report, 51 high-growth start-ups are likely to be valued between $500 million and $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 it achieves a market valuation of $1 billion. These categories of start-ups are known as Gazelles. The Hurun Report defines a ‘Gazelle’ as a start-up established after 2000, which has the potential to become a unicorn within three years.
Startup will give new direction to the economy
< Anas Rehman Junaid, founder and chief researcher of Haroon India, says gazelles and leopards pave the way for the economy of the future. What they are doing and where they are doing it. It indicates which sectors 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 founded after 2000, which has the potential to become a unicorn in the next five years.
In which sectors are startups going to become 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 in the e-commerce and agritech sector. Also, Aether Energy, an electric vehicle (EV) start-up, Zepto, a commercial start-up, an edtech start-up and Leap Scholar. These companies are innovating and focusing on growth in various industries.
These companies hope to become unicorns
Ather Energy, Chhalaang Scholar , there are a total of 51 companies like Zepto, Inspection.ai, Ninjacart, Rapido, CleverTap, Sklar, GreyOrange, Medicabazaar and Smartworks. These companies have attracted a large number of investors and generated good funding.
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