India’s Future Unicorns: Fintech Leads with 30 Potential Giants
India is home to 30 future unicorns in the Fintech sector, with consumer lending emerging as the dominant subcategory. According to the ASK Private Wealth Hurun India Future Unicorn Index 2024, the total worth of India’s future unicorns will stand at USD 58 billion, an increase of 1.2% compared to last year.
Fintech Sector
The Fintech sector leads with the highest number of companies that can become unicorns in the future. These startups have collectively raised an investment of USD 5.7 billion. Fintech holds a strong position, commanding a substantial share of the overall value of future unicorns, with a total of USD 11.4 billion or 20% of the total value. Money View stands out as the most valuable Fintech Gazelle, while JusPay takes the lead as the most valuable Fintech Cheetah.
SaaS Sector
SaaS is the second-largest sector, showcasing 20 future unicorns. These startups have collectively raised a substantial investment of USD 2.1 billion. MoEngage emerges as the most valuable SaaS Gazelle, while Lentra takes the lead as the most valuable SaaS Cheetah.
E-commerce Sector
The e-commerce sector registered 15 future unicorns, amounting to a total value of USD 6 billion. These startups have collectively raised an investment of USD 2.4 billion. InsuranceDekho and Medikabazaar emerged as the most valuable e-commerce Gazelles, while Jumbotail takes the lead as the most valuable e-commerce Cheetah.
Artificial Intelligence Sector
The AI sector has the potential to produce 11 future unicorns, with a cumulative value of USD 4.4 billion, representing approximately 8% of the total value of all future unicorns. Observe.AI is the most valuable AI Gazelle, while Locus is the most valuable AI Cheetah.
Edtech Sector
The Edtech sector will have 11 future unicorns and has secured the fifth position in the ecosystem. Leap Scholar emerged as the most valuable Edtech Gazelle, while Cuemath secured the valuable Edtech Cheetah status.
