Recent years, the number of unicorns in India has increased to unprecedented heights; at one point, India had ten unicorns. The total number of people has now risen to 38. It took an average of eight years for an Indian firm to become a unicorn.
The fintech industry has produced the most unicorns however, the SaaS, data analytics, retail technology, and gaming industries are rapidly catching up. The majority of these are backed by technology, which is the primary distinction between unicorns of the 21st century and those of the previous age.
The rate of deep adoption is increasing, and it is likely to increase even more in the next years. AI/ML start-ups received 87 percent of all deep tech investments that have benefited from altering laws and policies aimed at them, as well as different government initiatives.
The inflow of cash, particularly from prominent tech companies, into the Indian start-up ecosystem indicates the Indian market’s enormous potential. With the next billion customers up for grabs, as well as a tech-savvy and young populace, India is likely to see a slew of unicorns racing to the finish line sooner rather than later.
Following the pandemic’s initial shock and awe, the largely tech-enabled unicorns swiftly established their footing with increased client consumption. Consumers’ reliance on eCommerce to meet a wide range of daily demands has become constant across a wider range of services. Tech and non-tech hiring has increased as a result of more hopeful demand trends.
Indian unicorns and potential unicorns employed about 65,000 executives for white-collar professions in the last 15 months, as the epidemic drove digital and eCommerce adoption resulted in the creation of hundreds of jobs.
321 unicorns have emerged from the European start-up industry thus far, firmly establishing Europe as a worldwide innovation player. In Central and Eastern Europe, 28 people were born, with 9 of them born in 2021 alone.
Furthermore, companies reach $1 billion valuations at a faster rate than ever before. It took Europe seven years to breed the first ten unicorns, but in the last seven years, more than 260 have been born.
A crucial aspect is an increase in accessible capital in 2021, European entrepreneurs raised a record-breaking $121 billion, three times more than in 2020. It should be highlighted that there is still a significant geographic divide.