Synopsis
In 2021, India witnessed a surge of 39 startups achieving unicorn status. Following a period of easy funding, these companies, including Cred and Meesho, now navigate a changed landscape marked by global uncertainties and investor caution. While some, like Cred, continue to secure significant investments, others are adapting their strategies or pursuing public listings, reflecting the evolving dynamics of the startup ecosystem.
In 2021, a year after Covid upended the world, 39 Indian startups became unicorns, valued at $1 billion or more. These included Cred, Meesho, Groww, Cult.fit and many others that have become household names.Five years ago, a zero-interest-rate policy and a flood of venture capital changed India’s startup landscape.Now, in the middle of geopolitical shocks, pullback of major investors and the rapid rise of generative AI, where are the unicorns of 2021?Cred has famously raised a $900 million investment from Meta. Some others have listed or are preparing for an IPO, a few have reset their ambitions and others are still grappling with the excesses of that boom year.
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