Titan Capital has officially launched the Indicorns index, a pioneering initiative aimed at spotlighting profitable startups in India that have generated over Rs 100 crore in revenue. This move signals a significant shift in the Indian startup landscape, showcasing the increasing number of self-sustaining businesses that prioritize profitability over heavy reliance on external funding.
The Indicorns index reveals impressive figures: a total of 186 startups have collectively generated an astounding Rs 1,06,040 crore in revenue and achieved Rs 8,615 crore in profits for the fiscal year 2023. Many of these companies have experienced rapid growth, with some actively pursuing strategic acquisitions or planning for public listings to further accelerate their expansion.
“This is a transformative moment for the Indian startup ecosystem. Indicorns celebrate companies that have not only excelled in profitability but are shaping the future of the Indian economy by prioritizing sustainable growth,” stated Kunal Bahl, co-founder of Titan Capital.
Among the prominent startups featured in the Indicorns index are Groww, Infra.Market, Indifi, ConfirmTkt, CashE, Fibe, Everest Fleet, Fynd, Indiqube, Karza, Lendingkart, Oxyzo, and Nodwin. Since its inception in 2011, Titan Capital has supported over 250 companies, with notable seed investments in successful ventures such as Urban Company, MamaEarth, OfBusiness, Razorpay, Unicommerce, and Ola Cabs.
In August, Titan Capital’s Winners Fund reached its target corpus of Rs 200 crore, with co-founders Kunal Bahl and Rohit Bansal serving as the fund’s largest investors. This fund has enabled them to realize significant exits from companies like Urban Company, MamaEarth, Ola, and Credgenics. Notably, their initial investment of Rs 57 lakh in Urban Company yielded an impressive exit of Rs 111 crore. Similarly, an early investment of $60,000 in Ola grew substantially, culminating in a complete exit when the company achieved a peak valuation of $7.3 billion in 2021.
The launch of the Indicorns index represents not only a celebration of profitability but also a testament to the resilience and growth potential of the Indian startup ecosystem, paving the way for future entrepreneurs to build sustainable businesses.
