Titan Capital presents an index to track how Indian companies achieve profitability within 15 years of inception

Indicorns, the new index tracks leading Indian startups that have achieved profitability and crossed the INR 100 crore revenue mark within 15 years of its inception

For FY23, the VC firm has recognized 186 Indian startups as Indicorns, including OfBusiness, Zerodha and Mamaearth, among others

Titan Capital claims to have backed over 250 startups from India and the US

VC firm focusing on the seed stage Capital of the Titans launched Indicorns, a new index tracking leading Indian startups that have achieved profitability and crossed the INR 100 crore revenue mark within 15 years of its inception.

Unlike ‘unicorns’ which focus on company valuation, this index focuses on long-term sustainability, profitability and contribution of startups to the Indian innovation landscape, the VC firm said in a statement.

“This list goes beyond valuations and highlights what really matters – building enduring businesses that stand the test of time,” said Titan Capital co-founder Kunal Bahl.

For FY23, the VC firm recognized 186 Indian startups as Indicorns, including OfBusiness, Zerodha and Mamaearth, among others. These Indicorny companies generated a cumulative income of Rs. INR Cr and total profit of Rs. INR Cr.

Bengaluru leads the index with 48 Indicorns, followed by Delhi and Mumbai with 46 and 45 startups respectively.

Notably, Titan Capital sourced all data from Tracxn, a market intelligence platform that offers data and insights on several organizations.

Founded by Snapdeal co-founders Bahl and Rohit Bansal in 2015, Titan Capital counts Key portfolio companies include Mamaearth, Ola, Razorpay, Urban Company, Shadowfax, OfBusiness, Credgenics, Giva, Invideo.

The VC firm claims to have backed over 250 India- and US-based startups across sectors including consumer internet, artificial intelligence, SaaS, fintech and logistics.

The development comes as last month, Titan Capital raised 200 Cr through the Titan Capital Winners competition A fund investing exclusively in subsequent rounds of breakthrough start-ups from its seed portfolio.

In addition to investments, Titan Capital is known for its bumper returns after exiting any run.

For example, recently a VC firm left the start-up providing hyperlocal services, Urban Company with an amount of INR 111 Cr which is 195 times the investment of INR 57 Lakh in 2015.

Last year, when Mamaearth’s parent company, Honasa Consumers, debuted on the public market, Titan saw returns almost 101 times the initial investment at the start.