With 16 start-ups achieving unicorn status in 2021, India’s total has surpassed 50.The most recent addition to this list is Pune-based MindTickle, which is nearing completion of a $100 million fundraising round from Softbank’s Vision Fund 2, raising the company’s valuation to $1.1 billion. Softbank invested $100 million in the firm last year, at a value of $500 million.
“MindTickle was looking to raise funds and Softbank did not want to let go of the chance and, hence, they are reinvesting in them,” quoting a source.
Softbank has begun investing heavily in the Indian start-up and e-commerce sectors once more. It made investments in Meesho, a social commerce platform, and Firstcry.
The Japanese company also intends to invest $500 million in Flipkart. Meanwhile, SaaS startup BrowserStack has raised $200 million in a series B investment from US-based BOND, bringing its worth to $4 billion, according to media sources. Insight Partners and Accel also participated in the financing round. The firm has raised $250 million to far and is a successful venture.
BrowserStack’s values have increased 8x in the previous three years, according to Venture Intelligence statistics. According to industry analysts, the Indian unicorn list is anticipated to grow in the coming months as fund institutions with access to cash search for new investment opportunities.
According to Preqin statistics, as of February 15, around 35 private equity (PE) players focusing on India were raising funds with a total capital goal of $8 billion, while over 80 venture capital companies were aiming to raise approximately $8.3 billion. And that isn’t all.
According to Preqin statistics from June 2020, Asian private equity companies have a record $361 billion in unspent money. According to a Bain & Company research, India-focused dry powder is expected to be steady at $6 billion by the end of 2020.
Several unicorns that are category leaders in their respective fields have been formed, indicating an increase in investor optimism over last year.
The fact that several high-growth start-ups are contemplating initial public offerings this year further indicates investor interest.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.