Bangalore India has overtaken many developed economies, including China, UK and Canada unicorns According to PwC India, during the third quarter (Q3) of the calendar year 2021.
a unicorn Is a startup that has a valuation of at least $1 billion.
India added around 10 unicorns in the third quarter, while China and Hong Kong added seven, and the UK and Canada four each, indicating a rapid pace of investment activity.
However, the US continued to lead the charts, adding around 68 unicorns in the September quarter.
Indian startups raised $10.9 billion in 347 deals in the quarter; PwC said that for the first time, investment in Indian startups exceeded $10 billion in a quarter.
According to industry estimates, Indian startups have raised over $24 billion in the first three quarters of 2021.
“Startups have leveraged the accelerated digital adoption seen among businesses and individuals to create new business models, and this is driving investor interest in a big way. said Amit Navka, Partner – Deals and Startups Leader, PwC India We are seeing an increase in the average deal size and faster funding rounds, which has led to a pick-up in deal activity across sectors since the beginning of this year.
The consulting firm said that over 84% of total funding activity during the third quarter was focused on growth or late deals, while 61% involved early-stage funding rounds.
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