New Delhi [India], June 23 (ANI): India is home to 30 future Unicorns in the Fintech sector, with consumer lending emerging as the dominant subcategory, constituting more than half of the FinTech future Unicorns, ASK Private Wealth Hurun India Future Unicorn Index 2024 observed.
The total worth of India’s future unicorns will stand at USD 58 billion, an increase of 1.2 per cent as compared to last year. Fintech sector leads with the highest number of companies that can become Unicorns in future.
The Fintech start-ups featured in this year’s report have collectively raised an investment of USD 5.7 billion. FinTech holds a strong position, commanding a substantial share of the overall value of future Unicorns, with a total of US$11.4 billion or 20 per cent of the total value.
Money View stands out as the most valuable Fintech Gazelle, while JusPay takes the lead as the most valuable FinTech Cheetah.
The report defines Unicorn startup which is in existence after 2000 with a valuation of USD 1 billion. Gazelles category startups are those that are likely to go Unicorn in the next three years while Cheetahs category startups could go Unicorn in the next five years.
SaaS stood as the second-largest sector, showcasing a count of 20 future Unicorns. The SaaS startups collectively raised a substantial investment of USD 2.1 billion, reflecting investor confidence and support in this sector’s growth and potential.
MoEngage emerges as the most valuable SaaS Gazelle, while Lentra takes the lead as the most valuable SaaS Cheetah, as per the report.
The e-commerce sector registered a significant count of 15 future Unicorns, amounting to a total value of USD 6 billion. The e-commerce startups have collectively raised an investment of USD 2.4 billion.
InsuranceDekho and Medikabazaar emerged as the most valuable e-commerce Gazelles, while Jumbotail takes the lead as the most
valuable e-commerce Cheetah, according to the report.
Artificial Intelligence, the most buzzing sector that has attracted the attention of investors in the startup sector, has potential to produce 11 future Unicorns, as per the report. The cumulative value of AI future Unicorns amounts to USD 4.4 billion, representing approximately 8 per cent of the total value of all future Unicorns.
Under the AI sector Observe.AI is the most valuable AI Gazelle, while Locus is the most valuable AI Cheetah.
Edtech sector will have 11 future Unicorns and has secured the fifth position in the ecosystem. In the Edtech sector Leap Scholar emerged as the most valuable Edtech Gazelle, while Cuemath secured the valuable EdTech Cheetah status in the report.
(ANI)
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