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NASSCOM Tech Start-up Report 2021 – Year of the Titans

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“NASSCOM Tech Start-up Report 2021 – Year of the Titans” underlines how 2021 was the year of unparalleled growth in the Indian tech start-up ecosystem. Many records have been established this year across different areas: unicorns, funding, merger & acquisitions, investors, and more. The report also highlights key aspects of the ecosystem which is strengthening its core like rising inclusivity and diversity, intensifying corporate participation, deepening investors’ commitment, and much more. The report ends with some proactive measures that would allow us to accelerate, and de-risk, the tech start-up ecosystem growth.

Key Findings

An unforgettable year for tech start-ups

  • 2250+ tech start-ups founded, taking total base to 25,000-26,000
  • 42 unicorns added, up by 3.5X from last year
  • $ 24.1Bn funding, up by 3X from last year
Ecosystem becoming more inclusive and diverse

  • 29% of all tech start-ups based outside established hubs 
  • 10-15% of tech start-ups have at least one-woman founder/co-founder 
  • 48% of the tech start-ups are building solutions for India 1 and India 2 income group 
Increasing breadth and depth in sectors

  • BFSI accounts for 13 Unicorns, 35 potential unicorns and 25% of investments in 2021 
  • 35% of investments went to Retail and Retail Tech, EdTech, Food Tech, SCM & Logistics 
  • Significant uptick in Agri Tech, Automotive, Social Platforms, Industrial and Manufacturing  
Intensifying corporate and investors participation

  • 260+ unique corporates active in 2021; up from 170+ in 2020 
  • 750+ unique institutional investors active in 2021; 1.8X of participants in 2020 
  • 3X more investors participated in mega-rounds (deals > $ 100Mn)  

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