Indian unicorn startups have experienced significant disruptions in the past two years due to the funding freeze. Moreover, Startups have been forced to lay off employees to reduce costs, increase revenue, and become profitable. In summary, Indian Soonicorns have created 1.26 lakh jobs.
As per Inc42, nearly 90% of the employment opportunities have been created by soonicorns based in Bengaluru, Mumbai, and Delhi NCR. Moreover, with 35,000 jobs, fintech soonicorns have emerged as the largest job creator among future unicorns. FINO PayTech leads the pack in this area, followed by Mswipe (2,295 people), Turtlemint (2,080 employees), and Navi Technologies (1,949 employees).
In terms of job generation, the financial sector is followed by ecommerce, which has 19 unicorns. Country Delight has the most employees, with 1,257, followed by Pepperfry (1,209), and Jumbotail (1,191). Enterprise technology ranks third. Beside, the 13 soonicorns in the sector employ 9,573 people. Hackerrank has the most employees on this list, with 1,696, followed by Whatfix (1,087), Capillary Tech (1,041), and BetterPlace (1,038).
Meanwhile, the media and entertainment and edtech sectors each account for seven (6.3%) soonicorns. In terms of employment, the media and entertainment industry employs 4,395 people, whereas education technology employs 9,200. Furthur, the number of unicorns in India is expected to surge to over 280 by 2030 from 114 currently.