NEW DELHI: India’s future unicorns are worth $36 billion, according to Hurun India’s Future Unicorn List 2021 released on Thursday.
Sequoia-backed retail store Zilingo, gaming company Mobile Premier League, and cloud kitchen start-up Rebel Foods are the top three firms in the list set to become India’s next unicorns.
Others in the top 10 include Cure.Fit, Spinny, RateGain, Mamaearth, CarDekho, GreyOrange and MobiKwik.
The start-ups in the list released by Hurun Research Institute have raised $12.1 billion funding till now from more than 300 investors.
With 37 investments, Sequoia is the leading investor followed by Tiger Global Management with 18 investments.
In terms of sectors, FinTech is a clear leader with 18 start-ups on the list, followed by E-commerce (17) and SaaS (7).
“E-commerce, FinTech, Shared Economy and SaaS contribute more than half of the companies featured in the list... In 2020, despite the unprecedented challenges due to Covid-19, the FinTech, E-commerce and Shared Economy sectors raised investment to the tune of $2.8 billion, $2.5 billion and $1 billion respectively,” says the report.
Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, preparing the Hurun List was difficult due to the positive hyperactivity in the Indian start-up ecosystem.
Hurun India report mentions that India added circa three unicorns every month over the last year.