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 …
