9Unicorns

Presented in Parliament by Finance Minister Nirmala Sitharaman, the survey document revealed that the number of new recognised startups increased to over 14,000 in 2021-22 from 733 in 2016-17. "India has become the third largest startup ecosystem in the world after the US and China," read the document. Forty-four Indian startups have achieved unicorn status in 2021 taking the overall tally of unicorns to 83, most of which are in the services sector, it added.

Along with launching new brands, Honasa Consumer Pvt Ltd said that it will continue to aggressively expand distribution for existing brands -- Mamaearth and The Derma Co. -- and explore strategic inorganic growth opportunities in the beauty and personal care segment.

According to the report released by the Hurun Research Institute, it is revealed that India has 54 unicorns whereas the UK has 39 unicorns. The USA and China with 487 and 301 such companies, hold first and second spot respectively. India has elevated from fourth place. Last year the USA stood at first with 233, China at second with 227 , UK at third with 24, India at fourth with 21 and South Korea at fifth with 11.

The list includes Alchemy, co-founded by Nikil Viswanathan and Joseph Lau. It also featured Legion Technologies, founded by Sanish Mondkar. Alchemy makes it easier to read and write information onto blockchains, such as Ethereum and Flow, reports Forbes Africa. The service starts free for smaller developers, but larger customers pay a monthly fee.

"Domestic consolidation led to 68 per cent of the deal volumes in M&A. Unicorns, such as Byju's, Unacademy and Dream Sports sealed some of the M&A deals. As improvement in industrial indicators and external demand unfold, we hope economic activities would normalize in the coming months driven by pent-up demand, ongoing vaccination drive, support from policy mix and a resurgence in global growth," said Shanthi Vijetha,

The Hurun Research Institute on Thursday released the Hurun India Future Unicorn List 2021, a ranking of India's start-ups founded in the 2000s, which have not yet been listed on stock exchange. The other start-ups in the list are Zilingo, Mobile Premier League, Rebel Foods, Cure.Fit, Spinny, Rate Gain, and GreyOrange. Sequoia-backed online retail store Zilingo is set to become one of India's next unicorns, it said.

The startups are recognised by Department for Promotion of Industry and Internal Trade (DPIIT) and as of July 14, more than 5.7 lakh jobs have been reported by more than 50,000 startups, Minister of State for Commerce and Industry, Som Parkash, told the Lok Sabha in a written reply.