India’s tech startup ecosystem is roughly 15-year-old with the likes of JustDial and Naukri.com amongst its early lot of web enterprises. It took round one other 15 years for the nation to get its first unicorn – MakeMyTrip in 2010. Since then, the ecosystem has churned out 44 such one-horned digital entities which have cumulatively created round $106 billion value thus far and over 1.4 million direct and oblique employment yearly, in keeping with enterprise capital fund Orios Venture Partners. Among distinguished early-stage VCs, Orios was related with startups together with Ola, Druva, Zostel, Pretty Secrets, PharmEasy, and extra.
InMobi, Flipkart, Ola, Paytm, Byju’s, OYO, Swiggy, Zomato, PhonePe, Lenskart, and extra had added to the unicorn record over the previous decade together with the latest ones similar to Unacademy, Glance, Nykaa, Zerodha, FirstCry, and so forth. The ecosystem has already gone by cycles of increase, bust, and funding winter in the final 10 years fueled by valuation bubble, buyers’ optimism due to fear-of-missing-out (FOMO) syndrome, failure of a number of rising startups, and extra. Post-2015 correction in how buyers take a look at startup valuations, the main target has been progressively shifting to profitability at the same time as many main startups proceed to burn important capital yearly.
Importantly, the typical time taken by startups to hit the $1-billion valuation mark stood at 8 years. However, this is declining. From 8.7 years taken by startups based throughout 2007-09 interval to develop into a unicorn, the length decreased to 2.4 years for startups launched throughout 2016-17, the report by Orios titled Indian Tech Unicorn famous. While fintech phase noticed the utmost quantity of unicorns (11), retail and software-as-a-service posted six and 5 unicorns respectively. Data analytics, on-line classifieds, logistics, journey, meals, and schooling have been different segments churning out multiple unicorn.
“Most of these (unicorns) 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,” mentioned Rehan Yar Khan, Managing Partner, Orios Venture Partners. Bengaluru had a majority – 41 per cent of those unicorns whereas 34 per cent have been primarily based in Delhi NCR, 14 per cent in Mumbai, and the remaining in Pune, Chennai, and Hyderabad.