an image of startup

India comes second in unicorn race in Q3

India added close to 10 unicorns in Q3, versus seven by China and Hong Kong, and four each by the UK and Canada, signaling the rapid pace of investment activity.

BENGALURU: India has raced ahead of many developed economies, including China, the UK, and Canada, in adding new unicorns during the third quarter (Q3) of the calendar year 2021, according to PwC India.

unicorn is a startup with a valuation of at least $1 billion.

Investment Activity

India added close to 10 unicorns in Q3, versus seven by China and Hong Kong, and four each by the UK and Canada, signaling the rapid pace of investment activity.

However, the US continued to lead the chart by a distance, adding close to 68 unicorns in the September quarter.

The quarter also saw Indian startups raise $10.9 billion across 347 deals; the first-time investments in Indian startups have crossed more than $10 billion in a quarter, PwC said.

Digital Adoption

“Startups have leveraged the accelerated digital adoption seen among businesses and individuals alike to create newer business models, and this is driving investor interest in a big way. We are seeing the average deal size increase and quicker funding rounds, which has led to a surge in deal activity across sectors, since early this year,” said Amit Nawka, partner – deals and startups leader, PwC India.

More than 84% of the overall funding activity during the third quarter was focused on growth or late-stage deals, while 61% consisted of early-stage funding rounds, the consulting firm added.

an image of advertise

Follow us on FacebookLinkedin, and Instagram to get timely updates about start-ups
What kind of articles do you want to see on our website. Please mail us at gurvinder@chalgenius.com

You also want to feature your start-ups here. No Worries. Call or Whatsapp at 8910430165. Please click to know more about us

Chalgenius is not just a media site. It creates more business opportunities for you by connecting you with thousands of potential customers, investors, accelerators, and mentors across the country. Come grow your business with us. Contact us at 8910430165 or mail at chalgeniusss@gmail.com for further details.

Get more stuff like this

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Leave a Comment

Your email address will not be published.

Translate »

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.