India’s edtech unicorn, BIJU’S is the most funded company by private equity and venture capital firms in India, according to the ‘2022 Burgundy Private Hurun India 500’ list. BIJU’S was followed by cab hailing unicorn, Ola, NSE-listed Paitm and travel technology start-up, OIO.
While BIJU’S collected total funds of 47,680 million dinars, Ola, Paitm and OIO collected 41,110 million, 39,460 million dinars and 32,880 million dinars, respectively.
Other start-ups that made the list include Swiggy, Zomato, ShareChat, Dream11 and Pharmeasi.
Commenting on the release of the list, Anas Rahman Junaid MD and Chief Researcher, Hurun India, said: “It’s easy to see why the 2022 Burgundy Private Hurun India 500 represents the most powerful group of companies in India. With a combined value of $2.7 trillion, which is equal to India’s current GDP, they form the backbone of India’s economy. Together, these 500 companies had combined sales of $820 billion and employed 7.3 million employees, more than the working population of the United Arab Emirates.
The past two years have also seen the debut of a number of newbies on the stock market. The report revealed that the four former listed unicorns had a rough year as they cumulatively lost Rs 2 lakh crore. These companies are Nikaa, Zomato, Paitm and PoliciBazaar.
In terms of growth, BillDesk, Razorpay, Ola and Licious are the biggest gainers. Their values jumped by 195 percent, 176 percent, 169 percent and 121 percent.
Amitabh Chaudhari, MD and CEO, Akis Bank, pointed out that the performance of Indian companies amid the global economic crisis is worth applauding. “From a ‘rare bright spot’, when most of the world’s economies are looking at a slowdown, India should enter its decade of eminence.” “Indian companies and their leadership deserve great acclaim for their contribution to the unique positioning of the country today, and they will play an even greater role in making India the world’s third largest economy in the next decade,” he said.
In the second edition of Hurun’s list, India’s 500 most valuable companies are ranked according to their value, defined as market capitalization for listed companies and valuations for unlisted companies. This year, Mukesh Ambani’s Reliance Industries topped the list with a value of 17.3 crores.
Also Read: Mukesh Ambani-led Reliance Industries tops Hurun’s list of most valuable companies in India
Also Read: Serum Institute, BIJU’S, Swiggy, OIO Among Top Private Companies: Burgundy Hurun List