Google-backed neobank Open became the 100th unicorn of India with a $1 billion valuation. There are a total of 100 unicorns in India, including Mamaearth, EaseMyTrip, Ola, and Flipkart to name a few. But how many of these are profitable?
According to the statistics from the media portal, only 18 unicorns have achieved profitability. Reports also suggest that 57 unicorns are marked red-flagged.
Zoho, InfoEdge, Zerodha, Five Star, and Dream11 are the top five lucrative unicorns, according to the report, with profits of 1,917 crores, 1,409 crores, 1,122 crores, 359 crores, and 327 crores, respectively in FY21. While Zoho and Zerodha are self-funded, InFoEdge is a publicly-traded firm. Talking about the Sequoia Capital-backed Five Star is a non-bank Financial Institution.
Reports suggest that statics, OYO, Udaan, and Flipkart were the three unicorns that had not met their expectations and were named on the loss-making lists in FY21, each losing more than Rs. 2,000 crore.
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List of portable companies
- CoinSwitch Kuber
- Five Star
Which unicorns have the largest number of employees?
Flipkart has the largest number of workers among all unicorns, almost 55,000 employees. Byju’s, Swiggy, Ola, and Zomato have 39,953, 18,459, 16,799, and 16,191 employees, respectively. If we consider gig employees as temporary or contractual labor, the number of employees may vary.
Which cities have the most unicorns?
Bengaluru has the most unicorns, 38 out of the 100. With 30 unicorns, Delhi NCR is not far behind. Mumbai, Pune, Hyderabad, and Chennai have a combined 32 unicorns.
Where do Indian unicorns stand in the global arena?
The start of 2022 was not a better time for India’s startup. The company has already created 14 unicorns this year after raising $ 11.7 billion in Venture Capital Financing in the first quarter of the year. After last year’s rapid growth, India expects to have 250 unicorns by 2025.