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Despite the pandemic, India witnesses a surge in the number of unicorns

In India, investors are showing interest in technology startups. It is one of the reasons why Indian startups rapidly becoming unicorns. This year, eight startups have achieved unicorn status, which is a valuation of over $ 1 billion. Companies gained a lot from the digital economy that got strong following the COVID. And, investors competed to invest in ventures that became big hits.

Infrastructure Technology Provider ‘Infra Market’, Health and Technology giant ‘Innovator’, Non-Bank lender ‘Five Star Business Finance’, E-Pharmacy ‘API Holdings’, Social Commerce Startup ‘Misho’, and Fintech companies ‘Digit Insurance’, ‘Groww’ and ‘Credit’ are those unicorn startups.

Investment in Indian startups is on a two-year high. The sector currently shows no sign of recession.

Most startups that recently received investments have their asset value tripled from their last funding round. For example, Misho, which became a $ 2.1 billion company, has tripled its assets from its previous funding round in 2019. The investment platform Groww also tripled.

Experts say that the enthusiasm venture capital firms show in investment, the public acceptance of public listings and the good performance of the stock market give investors the confidence to take risks.

Digital sales have increased because of covid. Also, it brought more investment to startups that focus on the new technology segment. There are currently 40 unicorns in the country. The Nasscom report says it will escalate to 50 before the end of this year. Given the current pace of development, we can be sure that the number will soon be surpassed. Last year, amid the epidemic, 11 startups across the country achieved Unicorn status.

Despite the crisis, the new unicorns give new hope to India’s startup ecosystem. This is the inspiration for every startup in the country. Funds will come if there is a scalable idea.

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