The year 2021 recorded a huge surge in the number of unicorns, registering a total of 44 startups entering the Unicorn club throughout the year with a total valuation of $93 billion.

These 100 unicorns have been aggressive in raising funds at high valuations as they sought to expand rapidly across sectors, verticals and geographies.

Yet, when it comes to profitability, very few have managed to crack the code. According to data shared by data analytics firm Tracxn Technologies with Moneycontrol, only 23 of the 100 unicorns, or startups valued at $1 billion or more, have managed to achieve profitability for a financial year.