In the identical interval final 12 months, 13 corporations grew to become unicorns, or these privately held corporations valued at $1 billion or extra.
Tracxn tracks 1.4 million startups throughout 1,800 sectors globally.
India ranks third in total unicorns created, with america in first place, adopted by China, Tracxn added.
The unicorns minted this 12 months embody automation supplier Uniphore, inside options firm LivSpace, analytics firm Fractal, Games24x7, ElasticRun and social commerce firm DealShare.
The highest three unicorns by whole fairness funding up to now this 12 months are Fractal, Uniphore and LivSpace.
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Indian startups are going by a downturn in investor sentiment, or a “funding winter”, amid a slowdown throughout classes, financial volatility, enhance in rates of interest, steep surge in inflation and commodity costs, in addition to foreign money depreciation.
“There’s a real revolution occurring within the digital financial system, because of the unfold of smartphones and disruptive concepts. Valuations can fluctuate a bit, however the present funding issues will not be a mirrored image of the digital financial system,” mentioned Kannan Sitaram, accomplice at early-stage shopper startup investor Hearth Ventures.
Hearth has invested in private care firm Mamaearth, well being meals and substances maker Slurrp Farm and digital wearables maker Boat.
DealShare, which grew to become a unicorn after it raised $165 million from Tiger International and Alpha Wave International in January, mentioned it deliberate to rent 500 staff and as much as 1,000 contractual staff over a six-month interval, because it expands to newer cities.
“What’s taking place now could be that buyers are getting extra discriminating; they’re long-term features, and each real enterprise remains to be attracting buyers,” Sitaram mentioned.
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