Titan Capital presents ‘Indicorns’: a list of the most profitable startups in India

Titan Capital, a seed-stage venture capital firm led by entrepreneurs Kunal Bahl and Rohit Bansal, has launched Indicorns, an index of India’s most profitable startups. Indicorns represents a new class of companies that have not only achieved revenues of Rs 100 crore but have also achieved profitability, thereby building sustainable businesses.

Founded over the last 15 years, these startups have grown exponentially, many of them without outside funding or in some cases being acquired or listed on a stock exchange. Cumulatively for FY23, these 186 Indicorn indices generated cumulative revenues of Rs 1,06,040 crore and cumulative profits of Rs 8,615 crores.

Speaking on the launch of Indicorns, Kunal Bahl, Co-Founder, Titan Capital, said in a statement, “This is a watershed moment for the Indian startup ecosystem. Indicorns honor companies that have not only achieved outstanding profitability performance, but are also shaping the future of the Indian economy by prioritizing sustainable growth. This list goes beyond valuations and highlights what really matters – building enduring companies that stand the test of time.”

The Indicorn List provides insight into these startups, offering insight into their financial performance, growth strategies and market positioning. It serves as an essential resource for industry leaders, investors and policymakers who want to understand what sets these companies apart. Indicorns shed light on often overlooked companies, clearing up industry misconceptions and celebrating the entrepreneurial spirit that drives India’s business landscape. To date, Indicorns has employed over 92,771 people.