As the fifth month of 2021 ended, India’s newest unicorns equalled their tally with those from 2020. Zeta, a banking technology provider became the 14th unicorn this year at a valuation of $1.45 billion.
With the current pace that the Indian start-ups are setting on their way into the $1 billion club, with an average of one unicorn per week in just four months; we can say—It’s been raining unicorns in India.
Despite battling with a dwindling economy, India already has 14 unicorns in its kitty in just five months into 2021 (At the time of writing). Its more than what NASSCOM had predicted in January about the country having at least 12 unicorns by then.
From another perspective, 14 unicorns are more than what India collectively had from 2014 to 2018 (13 unicorns). In fact, the total number of unicorns that India had last year is 14.
Also, in the next few months, we may see 35 more start-ups joining the unicorn…