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Delhi-NCR ahead of Bengaluru, Mumbai with over 7,000 start-ups, 10 unicorns

Updated : September 11, 2019 07:37 AM IST

Delhi-NCR is home to over 7,000 start-ups and 10 unicorns with these new businesses having a cumulative valuation of about $50 billion, ahead of cities such as Bengaluru and Mumbai, according to a report by TiE-Delhi-NCR and Zinnov.

The report, titled 'Turbocharging Delhi-NCR Start-up Ecosystem', stated that Delhi-NCR accounted for a 23 percent share of start-ups in the country.

While there were 7,039 start-ups in Delhi-NCR, Bengaluru had 5,234, Mumbai 3,829 and Hyderabad 1,940. These new companies were founded between 2009 and 2019. Within Delhi-NCR, Delhi accounted for 4,491 start-ups, Gurugram 1,544 and Noida 1,004 new businesses.

The report highlighted that Delhi-NCR has 10 unicorns -- companies with a valuation of over $1 billion -- compared to nine in Bengaluru, two each in Mumbai and Pune and one in Chennai.

With appropriate interventions, Delhi-NCR can become one of the top-5 global start-up hubs and could have over 12,000 active technology start-ups, 30 unicorns and account for cumulative valuations of more than $150 billion, it added.

Meanwhile, InMobi’s group company Glance has raised $45 million from Mithril Capital. Founded in 2018, Glance is artificial intelligence (AI) powered personalised content provider and has about 50 million daily active users.

In an interview to CNBC-TV18's Young Turks, Naveen Tewari, CEO, InMobi Group, said, "We are absolutely blown away by the success of Glance and the pace at which consumers are adopting it and the amount of time they are spending on it. About 5-6 million people get added on daily active basis every month on it and people are spending over 20 minutes a day."

Good Capital has raised $12 million so far and the fund has announced seed investment in two startups. It will invest $1.25 million in video-based e-commerce platform SimSim and has invested in Uber co-founder backed Spatial Inc.

(With inputs from PTI)
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