India’s 100 Unicorns: Ranked by Revenue, Losses, Current Valuation, Revenue Multiple (Updated for FY22)

Update: Jan 2023 — I am adding a new table based on FY22 numbers

I have made a small effort to present the list of unicorns based on few financial parameters. Hope you like it. I have taken good care in compiling this. If you find any errors, please mail me at dabbot@gmail.com and I will fix it.

Top 20 Most Valuable Startups

11 are in Bangalore, 6 in Delhi NCR, 3 in Mumbai

*Listed (market value based on current share price)

Top 20 loss making startups

14 in Bangalore, 6 in Delhi NCR,

19 profitable unicorns— Top 2 are bootstrapped :)

7 in Delhi NCR, 5 in Mumbai/Pune, 3 in Bangalore

Top 20 by Revenue

10 in Bangalore, 6 in Delhi NCR, 3 in Mumbai

Funding to Revenue Ratio

How much revenues they making in comparison to the funding raised

Top 20 Youngest Unicorns

Top 20 B2C startups

Just 9 out of 57 B2C startups have shown profits in FY21 (15% profitable)

Top 20 B2B Startups

12 out of 38 B2B startups have shown profits in FY21 (31% profitable)

Top 20 based on high revenue multiple

This may not be the accurate picture as revenue is of FY21 and valuation is current, but then I am following the same method for all unicorns so thought of sharing this as well. Have excluded pre-revenue unicorn like Ola Electric, Mensa, Globalbees

Full Data

Data sources: Tracxn, Entrackr and Industry Reports