According to a latest report from Bangalore-based investment fund Iron Pillar, a growth capital investor specializing in mid-stage technology companies that are “Built from India for the World,” by 2025, India is expected to have more than 250 unicorns or privately held startups with a $1 billion valuation or above.
This report, titled ‘India Tech Trends‘, pegged the aggregate valuation of Indian unicorns at $535 billion in 2022. The fund said that the total number of unicorns in the country have more than doubled to 130 in the last 15 months, including the ones domiciled out of India.
Anand Prasanna, managing partner at Iron Pillar, said, “We believe that this pace may reduce a bit in the next 24 months, but creating 250 companies with over a $1 billion valuation by 2025 is an extremely achievable goal for Indian founders. We are especially bullish since almost 50% of these scaled companies are building for markets beyond India as well.”
Despite global headwinds, Indian startups raked in over $10 billion in funds during the first quarter of 2022, up from $5.7 billion in the same period in 2021, per data sourced from Venture Intelligence.
According to market intelligence platform, CB Insights, India continues to be the third largest technology ecosystem in the world with the most number of unicorns, after the U.S. and China.
