India to have 50-plus strong 'Unicorn club' in 2021: Nasscom-Zinnov report

India saw 12 new unicorns being created in 2020, the highest ever addition in a single year, and is on track to have a 50-plus strong 'Unicorn club' in 2021, a Nasscom-Zinnov report said. Unicorns are companies having valuation of more than USD 1 billion. The report titled 'Indian Tech Start-up Ecosystem On the March to Trillion Dollar Digital Economy' said the Indian tech start-up base is witnessing a steady growth of 8-10 per cent year-on-year, and over 1,600 tech start-ups were added in 2020. Although cautiously optimistic, the report said 2021 promises a return to normalcy for the Indian tech start-up ecosystem and deep-tech and new start-up hubs will continue to grow at 40-45 per cent CAGR, it said. India is on track to have a 50-plus strong 'Unicorn club' (companies with over USD 1 billion in valuation) in 2021 (from 38 in 2020), and M&A deals and IPO pipeline are also expected to accelerate in 2021, it added. The report said over 2,100 start-ups are leveraging deep-tech, .

India to have 50-plus strong 'Unicorn club' in 2021: Nasscom-Zinnov report
India saw 12 new unicorns being created in 2020, the highest ever addition in a single year, and is on track to have a 50-plus strong 'Unicorn club' in 2021, a Nasscom-Zinnov report said. Unicorns are companies having valuation of more than USD 1 billion. The report titled 'Indian Tech Start-up Ecosystem On the March to Trillion Dollar Digital Economy' said the Indian tech start-up base is witnessing a steady growth of 8-10 per cent year-on-year, and over 1,600 tech start-ups were added in 2020. Although cautiously optimistic, the report said 2021 promises a return to normalcy for the Indian tech start-up ecosystem and deep-tech and new start-up hubs will continue to grow at 40-45 per cent CAGR, it said. India is on track to have a 50-plus strong 'Unicorn club' (companies with over USD 1 billion in valuation) in 2021 (from 38 in 2020), and M&A deals and IPO pipeline are also expected to accelerate in 2021, it added. The report said over 2,100 start-ups are leveraging deep-tech, .