The first quarter of this year has witnessed over $10 billion USD injected into various start-ups based in the country. This is the third consecutive quarter that start-ups across the country have crossed this milestone. Over 330 start-ups were able to secure deals to funding deals.
Not only has hundreds of companies received new funds, but this has even created fourteen new unicorns. A unicorn refers to any start-up that has crossed a valuation of $1 billion USD. With over $10 billion USD injected into companies already, there seems to be a bright future in the entrepreneurial space in the country.
A study focusing on start-ups of the country even stated that software service providing start-ups gained a lot of traction this year as they raked in almost $4 billion USD as funding. In the year of 2021, fifteen software service providing companies crossed the threshold of $1 billion USD valuation. Some of these companies are very well known not only in the industry but even others such as, Darwinbox and Uniphore.
Out of the aforementioned fourteen start-ups that got coined as a unicorn, the biggest chunk went to the software service providers with five of them crossing the $1 billion USD valuation.
Experts have praised the government and the talent pool of Indian start-ups as in spite of the current geo political scenario and other factors like rising oil prices, companies were able to showcase that they are still an attractive investment especially considering that many of these firms were still in very early stages of their expansion.
Many experts also said that as a hub and culture of start-up growth gets bred and spread all around India, the government should get involved and make it easier for these companies to spread their wings and grow. The government should get involved with businesses from the grassroots level till the top and help them grow as this will help the government not only in terms of GDP but will even help in great employment opportunities, especially in a time when sleuths of people are looking for jobs after being laid off due to the coronavirus pandemic.
This quarter even witnessed eighty mergers and acquisitions completed successfully in the country. Some of the companies that were involved in these transactions includes, Mensa and Globalbees both of which hit their unicorn status at the end of the final quarter of 2021.
It seems like start-ups are going to experience as successful 2022 but only time will tell.
