Following the news that online car selling platform CarDekho and digital payments company MobiKwik have joined the unicorn club in India;
Swati Verma, Associate Project Manager of Thematic Research at GlobalData, offers her view:
“India’s tech unicorn ecosystem is the third-largest in the world, behind only the US and China. Currently, the country boasts 48 tech unicorns with a combined valuation of $137bn. The Indian unicorn ecosystem has demonstrated resilience during the COVID-19 pandemic. In 2020, there were just eight new tech unicorn formations but 2021 has broken all records, with 27 startups achieving unicorn status so far this year. In October alone five startups become unicorns. The country is …
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