India’s unicorn list has touched 50 mark. The landmark was achieved with 16 start-ups gaining unicorn status. The newest entrants to this list include Pune-based MindTickle, which is close to finalising a $100-million funding round from Softbank’s Vision Fund 2, taking the company’s valuation to $1.1 billion.
Last year, Softbank had invested $100 million in the company at a valuation of $500 million. Softbank has again started investing big in the Indian start-up and e-commerce segment. It invested in social commerce platform Meesho and Firstcry.
The Japan-based player is also planning to invest around $500 million in Flipkart. Meanwhile, Saas start-up BrowserStack secured $200 million from US-based BOND in a series B round, raising its valuation to $4 billion.
According to Venture Intelligence data, BrowserStack’s valuations have risen 8x in the last three years. According to sources, 35 private equity (PE) players focused on India were raising funds with an aggregate capital target of $8 billion and close to 80 venture capital firms were looking to raise around $8.3 billion.
According to Preqin data from June 2020, PE firms in Asia are sitting on a record $361 billion of unspent capital. Multiple unicorns who are category leaders in their space have been created signaling an improvement in investor sentiment as against last year.
