NEW DELHI: If edtech and e-commerce had the eye of investors last year, verticals such as software-as-a- service, agri-tech, and health tech are now giving them a run for their money. This week saw start-ups raising over $500 million funding and the birth of two new unicorns—healthtech firm Innovaccer Inc and realty technology start-up Infra market.
A recent survey by Mumbai-based Orios Ventures says that the time taken by start-ups to reach unicorn status has significantly reduced from 14 years a decade ago to just three years in 2019. According to the report, India had a total number of 44 unicorns that have created an aggregate value of $106 billion.
The newly formed saas unicorn, Innovaccer Inc, for instance has been showing a CAGR of over 100 per cent since its birth five years ago. The company connects healthcare data across myriad systems and settings, delivering unified patient records and actionable insights that result in better patient outcomes and lower costs. Its platform improves efficiencies and helps those in the care ecosystem to deliver whole-person care.
Infra.market, meanwhile, offers a marketplace for the acquisition of construction materials for companies in the infrastructure segment. The firm has raised over $100 million in a Series C funding round led by US-based investment Tiger Global.