2019 Sees Unprecedented Growth Of Indian Unicorns As Six Startups Join Coveted $1 Billion Club

2019 Sees Unprecedented Growth Of Indian Unicorns As Six Startups Join Coveted $1 Billion ClubRepresentative image of a startup office in Bengaluru (Hemant Mishra/Mint via Getty Images)

India’s startups are growing like never before, with an unprecedented six companies reaching unicorn status, or valuations of $1 billion or more, till now in 2019, reports Livemint.

The latest to join the list is contract management software platform Icertis, in which investors poured in $115 million last week; the funding round being led by American VC firm Greycroft and the family investment office of Azim Premji, Premji Invest.

BigBasket, Rivigo, Delhivery are some of the other names which have become part of the growing club of Indian unicorns this year.

Commenting about India’s rapidly growing startup space, United Ventures investment director Radha Kizhanattam said, “The state of today's startup ecosystem has a lot to do with efforts of these early unicorns, startups which bore significant market development costs. Now add to this hugely favourable macro changes, capital supply and the maturing consumer, and you have a growing unicorn tribe.”