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Future unicorns were seen disrupting financial services, healthcare, business management solutions, and education. Up to 70% of all future unicorns in the Hurun index are from Bengaluru, Mumbai, and Delhi-NCRFuture unicorns were seen disrupting these industries.
A research report has indicated growth for India’s startups, which can be considered as a glimmer of light for the country’s startup ecosystem amid a relatively dry period of investment in recent months compared to years past.
· Why 147 Startups Worth $57 Billion Have a Chance of Becoming Unicorns
· Which Cities in India Are the Leaders in the Startup Ecosystem?
147 Startups With A Value Of $57 Billion Could Become Unicorns
According to analysis from the Hurun analysis Institute, India’s unicorns of the future are currently valued $57 billion. It has located 147 firms that have the potential to become unicorns shortly. Of these, 30 have their main offices abroad, the majority of them in the US, but they mostly run out of India.
These hypothetical unicorns, according to the research company, are from 25 different cities and are, on average, eight years old. According to a TOI article, Bengaluru was in the lead with 53 future unicorns having their headquarters there.
The top five startups that are anticipated to become unicorns during the next three years are Zepto, Stashfin, Ather Energy, and Kreditbee, while unicorns are anticipated to emerge within the following five years for Dunzo, Pepperfry, Waycool, Practo, and Healthkart.
The Startup Ecosystem in India: Which Cities Rule?
Bengaluru is home to 12 gazelles and 41 cheetahs, with a total market value of $19.9 billion. A startup that would turn into a unicorn in the following three years is referred to by the institution as a gazelle. In the next five years, startups called cheetahs would become unicorns. The Hurun index contains future unicorns from Bengaluru, Mumbai, and Delhi-NCR that make up as much as 70% of the total.
According to the survey, the vast majority solely sell software and services, with only 20% selling tangible goods. While 63% of sales are to consumers, about 37% are to corporations. Hurun stated in its analysis that “future unicorns were seen disrupting financial services, healthcare, business management solutions, and education.” A total of $18. 8 billion in money was raised by the gazelles and cheetahs included in the index, a 6% rise from the previous year. One of them, Navi Technologies, a banking and financial services firm founded by Sachin Bansal, received the maximum funding of $582 million, making it India’s most well-funded unicorn. Northern Arc, with a funding of $559 million, is right behind Navi Technology.