Where are the unicorns of 2021

In 2021, a year after Covid upended the world, 39 Indian startups became unicorns, valued at $1 billion or more.
These included Cred, Meesho, Groww, Cult.fit and many others that have become household names.

Five years ago, a zero-interest-rate policy and a flood of venture capital changed India’s startup landscape.


Now, in the middle of geopolitical shocks, pullback of major investors and the rapid rise of generative AI, where
are the unicorns of 2021?

Cred has famously raised a $900 million investment from Meta. Some others have listed or are preparing for an
IPO, a few have reset their ambitions and others are still grappling with the excesses of that boom year.