India has the second largest number of unicorns and is only behind the United States (US) in building new unicorns, as per a PricewaterhouseCoopers (PwC) report titled ‘Start-up Perspectives—India start-up deals tracker Q3 CY21’. Fintech has ruled the roost as per this survey as the sector reported an exponential growth in its investments in India given the coronavirus pandemic. Investments worth $4.6 billion were recorded in the fintech space so far, up ~296 per cent from $1.6 billion in 2020. Investments worth $2.4 billion were recorded for 53 closed deals this year in Q3 CY21 across several stages of investment. In case of fintech unicorns, top early-stage investors were Blume Ventures, Elevation Capital and Matrix Partners India whereas prominent late/growth stage investors were Sequoia Capital, SoftBank, Tiger Global, IIFL VC, and 3one4 Capital.

Link for the report: https://www.pwc.in/assets/pdfs/services/startups/start-up-perspectives-october-2021.pdf