Startups in India grew their funding 25x over the decade from $550 million in 2010 to a staggering $14.5 billion in 2019.
The country accumulated 24 unicorns and 155 soonicorns — startups with the potential to reach the $1 billion valuations.
From this year alone, 9 of these unicorns and 60 soonicorns were formed this year.
Among the latest unicorns in the country is Bengaluru-based online grocery retailer BigBasket, Gurugram-based logistics startup Delhivery, and Delhi-based eye-wear firm Lenskart.
According to Tracxn, the most popular startup business model this year are hotel aggregators, e-commerce logistics, online horizontal B2B marketplace, and cab-ride hailing space.
Every country has synonymous cities where startups are formed — In India, cities like Delhi NCR, Bengaluru, and Mumbai topped the chart.
For venture capital investors, Sequoia Capital, Accel and Tiger Global Management raised the highest number of investments in India this year — Steadview Capital, General Atlantic, and FMO reigned among the top investors for private equity firms.