Titan Capital has unveiled its latest initiative, the Indicorns index, designed to showcase profitable Indian startups generating over Rs 100 crore in revenue. This launch highlights a growing trend of self-sustaining businesses in India that achieve profitability without heavy reliance on external funding.
In FY23, the 186 startups included in the Indicorns index collectively reported an impressive Rs 1,06,040 crore in revenue and Rs 8,615 crore in profits. Many of these companies are experiencing rapid growth, with several exploring strategic acquisitions and public listings to further 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.
The Indicorns list features notable startups such as Groww, Infra.Market, Indifi, ConfirmTkt, CashE, Fibe, Everest Fleet, Fynd, Indiqube, Karza, Lendingkart, Oxyzo, and Nodwin. Since its inception in 2011, Titan Capital has invested in over 250 companies, with significant seed investments in high-profile names like Urban Company, MamaEarth, OfBusiness, Razorpay, Unicommerce, and Ola Cabs.
Additionally, Titan Capital’s Winners Fund recently reached its target corpus of Rs 200 crore, with co-founders Bahl and Bansal as its largest investors. Their strategic investments have yielded substantial returns, including a complete exit from Urban Company worth Rs 111 crore from an initial Rs 57 lakh investment, and a $60,000 investment in Ola that ballooned in value as the company soared to a peak valuation of $7.3 billion in 2021.
