12 startups may turn unicorns in ’21: Nasscom
E-commerce major Flipkart, foodtech startup Zomato and furniture e-tailer Pepperfry are also preparing to go public.
The Indian tech startup ecosystem will continue to grow on the back of rapid digitisation and adoption of new technologies in a post-pandemic world, according to a joint report by Nasscom and global management and strategy consultancy Zinnov.

The report said that India will have at least 12 more unicorns in 2021, taking the total count to 50. The pipeline of startups with valuations of $1 billion or more remains strong with 1.5x growth since 2019, the report added.
In 2020, 12 startups joined the coveted unicorn club, the highest ever in a year, with 58% of them being B2B tech startups, including Razorpay, PineLabs, Zerodha and Postman. At $16 billion, Paytm is India’s most valuable unicorn, followed by edtech startup Byju’s. Nasscom said the IPO pipeline for startups will also strengthen in 2021-22, with a number of profitable firms such as Freshworks, Druva, PolicyBazaar and Delhivery announcing plans to list their shares.
Earlier this week, Mint reported that cosmetics e-tailer Nykaa is looking at a stock exchange listing by the end of 2021 or early next year at a valuation of more than $3 billion.
E-commerce major Flipkart, foodtech startup Zomato and furniture e-tailer Pepperfry are also preparing to go public.
Nykaa, which was founded eight years ago, will be the first online beauty marketplace in India to launch an IPO.
