India's Unicorns Triple Revenue, Drive 31% of Global IPOs in 2024: Redseer India's startup ecosystem is evolving beyond hypergrowth, embracing profitability, premiumization, and omnichannel adoption leveraged by over a 100 unicorns and a booming pipeline of soonicorns, according to Redseer, a strategy consulting company.
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India's startup ecosystem is evolving beyond hypergrowth, embracing profitability, premiumization, and omnichannel adoption leveraged by over a 100 unicorns and a booming pipeline of soonicorns, according to Redseer, a strategy consulting company.
The event shed light on key insights about the median revenue of unicorns tripling since 2021, with most achieving EBITDA profitability in 2024. The country also saw a major boost to the public market sector with over 330 IPOs in 2024, which contributed to more than 30 per cent of global IPO volumes.
According to Redseer, India contributed 31 per cent of the global IPO volume in the past year, with USD $3 billion raised in overall fundraising. The country is aiming for a USD $13 trillion market capitalization by 2030, driven by strong investor participation.
Experts also opined that India has only close to 350 brands with USD 100 million in revenue, highlighting the 'under branded nature of the market' where many categories remain fragmented by unorganized players.
Anil Kumar, CEO of Redseer Strategy Consultants, shared "India's digital and startup ecosystem is at a crucial inflection point. The next decade will belong to companies that master omnichannel strategies, premiumization, and capital efficiency. Ground Zero is about equipping founders, investors, and industry leaders with actionable insights that drive long-term success."
Rakesh Kapoor, Founder 12flags Group and ex-CEO Reckitt Benckiser emphasized the need for founders to prioritize a consumer-first approach over chasing investors or IPOs, ensuring their products and services align with real consumer needs.
Kapoor also highlighted that true success in business stems from identifying a single-game changing insight rather than chasing multiple ideas.
Additionally, he stressed the importance of an ownership mindset, where both founders and employees take initiative and responsibility, reinforcing that long-term success lies in staying true to the brand's purpose and deeply understanding consumer behavior. Kapoor also shed light on his decision to start an investment firm.
"I made a conscious decision to stay away from corporate boardrooms and to stay with young people. I thought, the last thing I need to inspire people like me, I thought I'd need younger people to keep me young, to keep me fresh, to keep me challenged. And I thought I should invest in some of the younger people so that I can meet the best school people," said Kapoor.
Sachin Bansal, Chairman, Navi explained that line managers are now crucial in shaping employee experience and company culture. He discussed the operational differences across industries, noting that while financial services prioritize technology investments, e-commerce demands a robust logistics and inventory backbone. He also addressed the opportunities in digital payments, stressing that UPI's full potential is yet to be realized and that innovation in distribution and customer experience remains key to market differentiation.
