At 24, India is home to 3rd largest number of unicorns in the world

India’s start-up ecosystem is beginning to show signs of scaling up, with the addition of seven new unicorns as of August 2019. This takes the total number of start-ups with a valuation of over $1 billion to 24, which is the third largest number of unicorns in a single country in the world.

According to a new report by Nasscom, titled ‘Indian Tech Start-up Ecosystem – Leading Tech in the 20s’, over 1,300 start-ups were added in 2019, reinforcing India’s position as a leading start-up ecosystem. This takes the total number of tech start-ups from 8,900 to 9,300 in the last five years.

According to the report, investment in start-ups was steady at $4.4 billion in January- September 2019 across 450 start-ups, at a 5 per cent year-on-year growth. Funding saw a huge spike at the early stages (Series A, B) as well with $1.6-billion investment being recorded at 70 per cent y-o-y growth.