Indian tech startups added a record number of unicorns in 2020: Nasscom

Indian tech startups added a record number of unicorns in 2020, the highest ever in a calendar year, according to a Nasscom report.

The tech ecosystem added 12 unicorns, 67% with a global focus, and another major chunk with a business-to-business focus, possibly signalling a shift away from consumer internet companies that constitute the majority of unicorns.

Nearly 55 potential unicorns with total funding of over $50 million are in the pipeline, the report said. The total funding, however, fell from $6.6 billion in 2019 to $3.5 billion in 2020.