Indian edtech unicorn, BYJU’S is the most funded company by private equity and venture capital firms in India, according to the ‘2022 Burgundy Pvt Hurun India 500’ list. BYJU’S was followed by cab hailing unicorn, Ola, NSE-listed Paytm and travel tech start-up, Oyo.
While BYJU’S has raised a total 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 start-ups in the list include Swiggy, Zomato, ShareChat, Dream11 and Pharmacy.
Commenting on the release of the list, Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun India, said, “It is easy to see why the 2022 Burgundy Pvt Hurun India 500 represents the most powerful group of companies in India. With a net worth of $2.7 trillion, which is equivalent to India’s current GDP, they form the backbone of India’s economy. These 500 companies together generate $820 billion in sales and employ 7.3 million workers, which is more than the working population of the UAE.”
Several start-ups have also made their debut in the stock market in the last two years. The report revealed that the four former unicorns who were listed on the stock exchanges had a tough year as they cumulatively incurred losses of Rs 2 lakh crore. These companies are Nykaa, Zomato, Paytm and Policybazaar.
BillDesk, Razorpay, Ola and Licious were the biggest gainers in terms of growth. Their values increased by 195 per cent, 176 per cent, 169 per cent and 121 per cent respectively.
Axis Bank MD and CEO Amitabh Choudhary said the performance of Indian companies amid the global economic slowdown is commendable. “From a ‘rare bright spot’ when most world economies are staring at a recession, India is entering its decade of excellence. Indian companies and their leadership deserve much praise for their contribution to the country’s unique position today.” And they will play an even bigger role in making India the third largest economy in the world over the next decade.
In the second edition of Hurun’s list, the 500 most valuable companies in India are ranked according to their value, defined as market capitalization for listed companies and valuation for unlisted companies. Mukesh Ambani’s Reliance Industries topped the list this year with a valuation of Rs 17.3 lakh crore.
Read also: Mukesh Ambani-led Reliance Industries tops Hurun’s list of India’s most valuable companies
Read also: Serum Institute, Byju’s, Swiggy, OYO among top unlisted companies: Burgundy Hurun list
