MUMBAI : India’s startup ecosystem created a record nine unicorns in 2019, despite sentiments turning cautious in the December quarter, according to a report from startup data tracker Tracxn. Unicorns refer to privately-held companies with a valuation of a billion dollars or more. Startups in the country are achieving scale far more briskly with investors putting in large sums with a long-term view. Most of these unicorns were created in the first half of the financial year, or until September, when investors continued to be bullish on high-growth loss-making startups. These include Facebook, which invested in social commerce firm Meesho, and Tencent, which backed B2B marketplace Udaan, online insurance aggregator Policybazaar and streaming platform MX Player.

Source: Mint December 30, 2019 19:18 UTC