Indian edtech unicorn BYJU’S is the most private equity and VC funded firm in India, according to the ‘2022 Burgundy Private Hurun India 500’ list. BYJU’S was followed by Ola, the taxi unicorn, NSE-listed Paytm, and travel tech startup OYO.
While BYJU’S has raised a total funding of Rs 47,680 crore, Ola, Paytm and OYO have raised Rs 41,110 crore, Rs 39,460 crore and Rs 32,880 crore respectively.
Other startups featured on the list include Swiggy, Zomato, ShareChat, Dream11, and Pharmeasy.
Commenting on the publication of the list, Anas Rahman Junaid MD and Principal Investigator at Hurun India said, “It is easy to see why the 2022 Burgundy Private Hurun India 500 represents India’s most powerful group of companies. With a total value of $2.7 trillion, which is equal to the current GDP of India, they form the backbone of the Indian economy. Together, these 500 companies had combined sales of $820 billion and employed 7.3 million people, which is more than the workforce of the United Arab Emirates.”
The past two years have also seen several start-ups making their debut on the stock market. The report revealed that four former unicorns listed on the stock exchanges had a tough year as they racked up losses of Rs 2 lakh crore. These companies are Nykaa, Zomato, Paytm, and PolicyBazaar.
In terms of growth, BillDesk, Razorpay, Ola and Licious were the biggest gainers. Their values increased by 195 percent, 176 percent, 169 percent, and 121 percent respectively.
Amitabh Chaudhary, MD and CEO of Axis Bank, noted that the performance of Indian companies is worth applauding amid the global economic downturn. “From a ‘rare bright spot’, when most of the world’s economies are facing a slowdown, India is set to enter its decade of eminence. Indian companies and their leadership deserve high praise for their contribution to the unique positioning of the country today, and will play an even greater role in making India the third largest economy in the world over the next decade,” he said.
In the second edition of the Hurun list, India’s 500 most valuable companies are ranked based on their value, defined as market capitalization for listed companies and valuations for unlisted companies. This year, Mukesh Ambani’s Reliance Industries topped the charts with a valuation of Rs 17.3 lakh crore.
Also Read: Reliance Industries Led By Mukesh Ambani Tops Hurun’s List Of India’s Most Valuable Companies
Also Read: Serum Institute, BYJU’S, Swiggy, OYO Among Top Unlisted Companies: Burgundy Hurun List