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Flourishing digital economy helps startup ecosystem in India, says GlobalData


Following the news that two Indian unicorns—Nykaa and PolicyBazaar—have filed for listing in Indian exchanges and two startups—BharatPe and OfBusiness—have joined the unicorn club;
Swati Verma, Associate Project Manager of Thematic Research at GlobalData, offers her view:
“India has become a digital-first economy due to rising smartphone penetration and affordable mobile Internet. Consumer-facing tech startups are the biggest beneficiaries of this trend. According to GlobalData, India has the third-largest technology unicorn ecosystem in the world, behind the US and China. The country has added 15 new unicorns in 2021.
“Several unicorns have entered late-stage funding rounds. This is …

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