While the traditional sectors in India are still reeling under the effects of COVID-19 pandemic, the country is rewriting the tech start-up story. Until the end of June 2021, there were 16 unicorns with funding primarily from US-based investment firms. India is becoming the largest and fastest growing tech start-up ecosystem. As we write, there are as many as 60 unicorn start-ups (start-ups with valuation of more than $1 billion). The tech start-ups seem to be taking a center stage in the Indian unicorn ecosystem, where the growth is visible exponentially.
Valuebound takes pride in having on-board three strongly funded start-ups
Past few months have been extremely fruitful for Valuebound, as we play a significant role in the growth story with three strongly funded start-ups in the product engineering space.
The Chief Operating Officer of Valuebound, Abhijit Upadhyay in the all-hands meeting on August 21, 2021 said, “We’re going big, and are growing at a steady pace as we re-engineer the DNA of our organization.”
Valuebound is missing no opportunity to hop onto the bandwagon of India's digital economy, which is growing strong on the foundation of digital infrastructure. Rising number of tech start-ups, super apps, affordable data costs and heavy smartphone penetration- are the reasons that are giving impetus to the country's digital consumption.
Tech start-ups growing in mobile-first India ecology
Nasscom, the apex body of the IT industry in India had earlier predicted that by the end of this year, there will be 50 unicorns in India. The country is now standing at 60+. The list is expected to grow further as the focus remains largely on digital access and internet where India zooms in on the mobile-first country model.
Prabhu Ram, the Head-Industry Intelligence Group (IIG), CMR says that this is the golden age for the internet startup ecosystem, and the IPOs have already signaled the arrival of this time.