Despite ‘funding winter’, Hurun says 122 more startups could become unicorns in 4 years IG News

A report on Wednesday said that despite the ongoing ‘funding winter’, which could impact start-up valuations, the number of unicorns or startups worth over USD 1 billion in the next four years figures to 200 companies. To cross it will increase to 122. The Hurun Research Institute said the number of unicorns is now 84, compared to 51 in the year-ago period, and there are another 122 worth more than USD 200 million that could achieve unicorn status in the next 2-4 years.

According to reports, there is a ‘funding winter’ in the Indian startup ecosystem due to various reasons like tightening of liquidity conditions across the globe. The report, which has been done in collaboration with ASK Private Wealth, states that the 122 companies most likely to achieve ‘unicorn’ status are valued at USD 49 billion, an increase of 36 per cent from last year. There is a jump.

According to the ASK Private Wealth Hurun India Future Unicorn Index 2022, these 122 companies currently employ 82,300 people. Venture capital fund Sequoia is the most popular backer of such companies, with 39 of 122 receiving funding from it, followed by Tiger Global at 27.

The list classified start-ups into two, and said that 51 companies can achieve unicorn status in two years while 71 can do so in four years. Shiprocket, a logistics tech start-up founded in 2017, is most likely to achieve unicorn status, followed by quick commerce company Zepto and e-commerce player Turtlemint.

“The country’s start-up ecosystem is expanding at an unprecedented rate. The number of unicorns has increased by 65 per cent in just one year.

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