Unicorns are valued at more than $1 billion and such startups get the most attention. The launch of “Indicorns” index by Titan Capital brings a fresh way to measure success in the Indian startup world. The index recognizes startups having reached Rs 100 crore in revenue and is also profitable.
The startup world has been focused on unicorns. It is often caring more about billion-dollar valuations than long-term success. The focus on high valuations often hides the real success stories. Companies quietly grow strong through profitability.
Titan Capital co-founder Kunal Bahl called it a transformative moment for the Indian startup ecosystem. It is focusing on companies that are thriving and also driving the economy forward with sustainable business models. The “Indicorns” index offers a more meaningful metric for evaluating success.
The numbers speak for themselves. 186 startups are featured on the list and these have collectively generated Rs 1,06,040 crore in revenue and Rs 8,615 crore in profits in FY23. The businesses have demonstrated both profitability and scalability. The success of companies like Zerodha, Mamaearth, Infra.Market and Groww proves that profitability is possible. The success also proves that sustainable is the right path for startups.
The sectoral and regional diversity of startups reflects the broad impact of it. The index covers industries like fintech and logistics. The index covers cities like Bengaluru, Delhi NCR and Mumbai. “Indicorns” are redefining success by showing that India’s startup ecosystem is more than just a numbers game. It is about building businesses that last.
It is increasingly clear that profitability is the new frontier. The newly launched index is a long-overdue celebration of success and sustainability. It is signal of shift for entrepreneurial space in India.
