Latest news with #Indicorns
Economic Times
05-05-2025
- Business
- Economic Times
Titan Capital launches Indicorns 2025 List of India's profitable startups
iStock Indicorns aims to recognise companies that prioritise profitability, durability, and value creation. NEW DELHI: Titan Capital, a seed-stage venture capital firm, founded by Kunal Bahl and Rohit Bansal, recently unveiled the 'Indicorns 2025 List' list at India Internet Day. The Indicorns index aims to honour startups that have not only surpassed Rs 100 crore in annual revenue but have also achieved profitability. Indicorns aims to recognise companies that prioritise profitability, durability, and value creation. Each of the 202 companies featured in the Indicorns 2025 list was founded within the last 15 years. Some have scaled profitably without any external funding, while others have gone on to be acquired or listed publicly. Together, as of FY24, these companies generated a cumulative revenue of Rs 1,51,137 crore and profits of Rs 7,393 crore—a testament to their financial strength and operational Bahl, Co-founder, Titan Capital said in a statement, 'For too long, success in the startup world has been equated solely with sky-high valuations. With Indicorns, we're celebrating a different kind of success—one rooted in fundamentals like profitability, sustainable growth, and real impact. These companies are proving that building enduring businesses in India is not just possible, but already happening at scale. We hope this list inspires a new generation of founders to chase not just scale, but strength.'The Indicorns platform offers insight into these high-performing startups, from their financial metrics to growth playbooks, aiming to serve as an essential resource for founders, investors, corporates, and policymakers alike. These 200 Indicorns have also collectively created over 1,46,705+ jobs. The list will be updated annually, welcoming new entries based on performance and market dynamics.
Entrepreneur
05-05-2025
- Business
- Entrepreneur
Meet the Indicorns: 202 Startups That Scaled with Profitability
Focusing on the sectoral trends, Fintech (50 startups), E-commerce (16), and Logistics (13) are leading India's profit-first growth. Regionally, Delhi NCR emerged at the top with 51 Indicorns, followed by Bengaluru (42) and Mumbai (35). Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a landscape often dominated by funding frenzies and billion-dollar valuations, a quiet revolution is underway—where profitability is the new status symbol. Indian startups are now rewriting the rulebook by proving that scale and sustainability can go hand-in-hand. Taking the lead in celebrating this new entrepreneurial ethos, Titan Capital has launched the 'Indicorns 2025' report—an initiative that recognises India's most financially successful startups. The Indicorns list includes 202 companies that have crossed INR 100 crore in annual revenue and turned profitable—setting a powerful benchmark for what real startup success looks like. A brainchild of Titan Capital's co-founders Kunal Bahl and Rohit Bansal, Indicorns 2025 challenges the unicorn-centric narrative that has long equated startup success with inflated valuations. Instead, this index applauds startups that have demonstrated not just market fit, but operational excellence, fiscal discipline, and long-term vision. The report reflects a pivotal shift in mindset—away from "growth at any cost" to "growth with consequence." Each of these 202 startups—many of them bootstrapped or modestly funded—has been built within the past 15 years. From industry leaders like OfBusiness, Razorpay, OYO, Unicommerce, and Beardo, to high-performing niche players, these companies collectively posted a whopping INR 1,51,137 crore in revenue and INR 7,393 crore in profits in FY24. Speaking at the launch, Kunal Bahl said, "With Indicorns, we're celebrating a different kind of success—one rooted in fundamentals like profitability, sustainable growth, and real impact. These companies are proving that building enduring businesses in India is not just possible, but already happening at scale." The report, built in collaboration with Tracxn, draws on one of the largest datasets of private startups globally. It also features sectoral trends, revealing that Fintech (50 startups), E-commerce (16), and Logistics (13) are leading India's profit-first growth. Regionally, Delhi NCR emerged at the top with 51 Indicorns, followed by Bengaluru (42) and Mumbai (35). Interestingly, the study reveals that 69 of the featured companies scaled without external capital, 12 were acquired, and 13 are now publicly listed—illustrating the diversity of paths toward profitability. The youngest Indicorns reached the milestone in under five years, while over 100 took less than a decade. With TiE Delhi-NCR as its ecosystem partner, the Indicorns platform is positioned as a valuable resource for founders, investors, policymakers, and corporates alike. It offers deep insights into business models, growth metrics, and hiring trends. These Indicorns have collectively created over 1.46 lakh jobs, underscoring their role in strengthening India's economic fabric. As India's startup ecosystem matures, Indicorns signal a shift toward building legacy businesses—companies that can weather cycles, create employment, and deliver long-term impact. And with the list set to be updated annually, it's only the beginning of a new gold standard for startup success.
Time of India
05-05-2025
- Business
- Time of India
Titan Capital launches Indicorns 2025 List of India's profitable startups
Live Events NEW DELHI: Titan Capital , a seed-stage venture capital firm, founded by Kunal Bahl and Rohit Bansal, recently unveiled the ' Indicorns 2025 List' list at India Internet Day . The Indicorns index aims to honour startups that have not only surpassed Rs 100 crore in annual revenue but have also achieved aims to recognise companies that prioritise profitability, durability, and value of the 202 companies featured in the Indicorns 2025 list was founded within the last 15 years. Some have scaled profitably without any external funding, while others have gone on to be acquired or listed publicly. Together, as of FY24, these companies generated a cumulative revenue of Rs 1,51,137 crore and profits of Rs 7,393 crore—a testament to their financial strength and operational Bahl, Co-founder, Titan Capital said in a statement, 'For too long, success in the startup world has been equated solely with sky-high valuations. With Indicorns, we're celebrating a different kind of success—one rooted in fundamentals like profitability, sustainable growth, and real impact. These companies are proving that building enduring businesses in India is not just possible, but already happening at scale. We hope this list inspires a new generation of founders to chase not just scale, but strength.'The Indicorns platform offers insight into these high-performing startups, from their financial metrics to growth playbooks, aiming to serve as an essential resource for founders, investors, corporates, and policymakers alike. These 200 Indicorns have also collectively created over 1,46,705+ list will be updated annually, welcoming new entries based on performance and market dynamics.
Time of India
04-05-2025
- Business
- Time of India
Kunal Bahl on Indian startups: India Should prioritise sustainable "Indicorns" over billion-dollar unicorns
Kunal Bahl , co-founder of Snapdeal and Titan Capital, recently advocated for greater recognition of startups that are built of profitability, rather than solely focusing on billion-dollar valuations. Speaking at the TiE Delhi-NCR Summit, Bahl emphasised that companies like Infosys, Wipro and TCS are great examples of businesses that achieved success via patient capital and long-term profitability. He also urged the Indian startup ecosystem to shift its focus from billion-dollar unicorns to sustainable, profitable businesses—which he calls 'Indicorns.' Kunal Bahl urge startups to focus on profitable businesses Bahl voiced his concern that after 2017, the focus of media and investors shifted to "flashy valuations and big bets." He coined the term "Indicorns" to describe Indian startups that prioritise sustainable growth, often with little or no external funding, contrasting them with Unicorns, which are defined by reaching a $1 billion valuation, and Indicorns , which are characterised by strong revenues and profitability. "Valuation doesn't always represent progress," Bahl stated. "You can have a billion-dollar tag and no profits. Meanwhile, others are quietly building real value. They deserve recognition too." According to Titan Capital's data, Delhi-NCR has the highest number of Indicorns (51), followed by Bengaluru (42) and Mumbai (35). Founders of these companies have largely prioritised operational efficiency and margin discipline over securing substantial external funding. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Online Degrees designed for practical learning and future success Degree Online | Search Ads Learn More Undo Bahl also shared his own experience of building a software company that went public without raising any external capital, highlighting that profitable growth remains a viable strategy in today's startup ecosystem. He clarified that the "Indicorn" concept is not intended to replace Unicorns but to broaden the definition of success. "There's no single way to build a company," Bahl explained. "Some raise capital and scale fast. Others grow profitably. Both are valid—but the latter is often ignored." Bahl's comments come at a time when late-stage startups are facing valuation markdowns, and IPO prospects remain uncertain, underscoring a growing emphasis on financial sustainability. "I've met thousands of founders—none say they don't want to be profitable," Bahl added. "Most raise money because they have to, not because they want to. Let's not overlook the ones building quietly and profitably." AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
03-05-2025
- Business
- Time of India
‘India needs more Indicorns, not just Unicorns,' says Kunal Bahl
Snapdeal and Titan Capital cofounder Kunal Bahl said startups built on profitability—not just billion-dollar valuations—deserve greater recognition. Speaking at the TiE Delhi-NCR Summit on Friday, Bahl pointed to companies like Infosys, Wipro , and TCS as foundational examples of businesses built on patient capital and long-term profitability. #Pahalgam Terrorist Attack Code of war: India and Pakistan take their battle to the (web)front Forex reserves show a pauperised Pakistan, a prospering India Pakistan conducts training launch of surface-to surface ballistic missile 'Post-2017, the media and investors began focusing only on flashy valuations and big bets,' Bahl said. He coined the term 'Indicorns' to describe Indian startups that grow sustainably, often with little to no external capital. While Unicorns are known for hitting a $1 billion valuation mark, Indicorns are defined by robust revenues and profitability. According to the Indicorn list 2025, 202 Indian startups now generate over Rs 100 crore in annual revenue, with a collective profit of Rs 7,393 crore. These companies span sectors from logistics to SaaS and employ more than 1.46 lakh people 'Valuation doesn't always represent progress. You can have a billion-dollar tag and no profits. Meanwhile, others are quietly building real value. They deserve recognition too,' Bahl said. Live Events Delhi leads the Indicorn pack Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Titan Capital's data shows that Delhi-NCR leads with 51 Indicorns, followed by Bengaluru (42) and Mumbai (35). Many of these founders have built their companies without relying on large external rounds, focusing instead on operational efficiency and margin discipline. Bahl also cited his own experience of building a software company that went public without raising external capital. He declined to name it but said it was proof that profitable growth is still possible in today's startup environment. Not anti-unicorn—just pro-profit Bahl was quick to clarify that the Indicorn idea is not about replacing unicorns, but broadening the definition of success. 'There's no single way to build a company. Some raise capital and scale fast. Others grow profitably. Both are valid—but the latter is often ignored.' At a time when valuation markdowns are sweeping through late-stage startups and IPO prospects remain uncertain, Bahl's comments underscore a broader shift towards financial sustainability. 'I've met thousands of founders—none say they don't want to be profitable,' he added. 'Most raise money because they have to, not because they want to. Let's not overlook the ones building quietly and profitably.' Titan Capital has backed more than 250 startups , including Mamaearth, Urban Company, Razorpay, Unicommerce, Ola Cabs, OfBusiness and Credgenics. The fund raised Rs 333 crore to double down on follow-on investments in its existing portfolio.
