$5 bn for EV, 20 unicorns women-led: Path of Indian startup boom since 2014
The Indian startup ecosystem has experienced a monumental shift in the past decade, with sectors such as retail, enterprise applications, fintech, and logistics leading the growth story, data intelligence platform Tracxn Technologies said on Wednesday.
Despite the challenges due to persistent funding winter, Indian startups received $8.4 billion in funds from domestic and global investors in 2023. The number stood at $25 billion in 2022.
111 unicorns created in India so far
The country welcomed its 100th startup in the unicorn (startups valued over $1 billion) club in 2022. So far, 111 unicorns have been created in India, with another 355 startups having promising prospects, the report said. In 2023, ‘Incred’ and ‘Zepto’ had joined the ranks of unicorns.
