India now ranks because the third-largest nation, after the US and China, for enterprise capital-backed tech preliminary public choices (IPOs), the India Tech Unicorns & Exits 2024 report stated. These IPOs have pushed the whole market capitalisation of India’s listed tech corporations to round $150 billion.
Nevertheless, the report revealed a rise within the common time for Indian startups to attain unicorn standing, rising from 5.5 years in 2023 to 11 years in 2024. Equally, the common time to go public went up from 12.5 years to 13.4 years throughout that interval.
In 2024, India witnessed 327 IPOs, together with 13 within the expertise sector. The seven startups that achieved unicorn standing throughout the 12 months are Ather, Moneyview, Rapido, Perfios, Rategain, Krutrim and Porter.
The report additionally famous that 29 unicorns have been worthwhile in 2024, together with firms like Zerodha, MakeMyTrip and InfoEdge. Nevertheless, one-fifth of Indian unicorns are headquartered abroad.
A rising variety of these overseas-headquartered startups are exploring relocation to India to faucet into the nation’s strong development potential, as beforehand reported by ET.
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On the funding entrance, Indian startups raised $11.4 billion throughout 1,547 offers in 2024, with 62% of the whole funding going to late-stage funding rounds. Ecommerce led the sectoral distribution with 259 funding rounds, adopted by enterprise tech, fintech and shopper providers.
Acquisition exercise additionally rose considerably, with 370 acquisitions recorded in 2024 in comparison with 123 in 2023. Amongst these, Zomato’s acquisition of Paytm Insider, Paytm’s film ticketing and occasions enterprise, was the biggest.
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