Despite persistent challenges, women-led startups in the country are making notable progress in terms of funding, unicorn creation, and global positioning. Women entrepreneurs Fe spoke to said that the startup ecosystem hasn’t been discriminatory as investors, accelerators, and mentors have recognised the need for equitable opportunities.
Consider the numbers: As on date, out of 118 startups in the country with a unicorn status, 22 have women founders, according to Tracxn data. In other words women are powering one-fourth unicorns. Back in 2020, there were around 21 unicorns, of which 4 were unicorns. This means back then also 19% unicorns were founded by women entrepreneurs.
As on date, India has over 7,000 active startups with at least one female founder, accounting for 7.5% of the country’s total startup ecosystem. Of this, over 2,900 startups have received a cumulative funding of $26.4 billion in funding.
Further, according to Tracxn data, India ranks second globally in cumulative funding raised by women-led startups, trailing only the United States. In 2022, India accounted for 15.18% of global funding for women-led startups, but this figure dropped to 3.96% in 2024. Despite this decline, India maintained its third-place ranking in global funding in 2024, following the US and the UK.
Retail leads the way for women-led startups with $7.8 billion in total funding, followed by edtech ($5.4 billion) and enterprise applications ($5 billion). Sub-sectors such as B2C e-commerce, Internet-first brands, and fashion tech have witnessed notable growth. Some of the most successful women-led startups include Zomato ($1.7 billion in funding), Pine Labs ($1 billion), Lenskart ($1 billion), OfBusiness ($758 million), Cult.fit ($687 million), and ACKO ($598 million).
“More investors are today recognising the business case for diverse leadership. Many women-led businesses are also proving their ability to scale successfully, setting new benchmarks for future founders,” Mabel Chacko, co-founder and COO, OPEN told Fe .
“I see a change in the society, where more and more women are becoming open about their aspirations with their families and families/spouses in turn are becoming more supportive,” Smita Deorah, co-CEO and co-founder, LEAD Group said.
“The dynamics are changing. There’s far less hostility towards aspiring business women than how it used to be. Women are actively occupying the funding spaces and further encouraging other women,” Garima Sawhney, senior gynaecologist and co-founder, Pristyn Care said.
“There’s this notion that to succeed in fields dominated by men, women need to replicate male behaviours but that’s not true. Every business needs women and their unique perspective, a more inclusive leadership style, and a collaborative approach to ventures that are equally, if not more, powerful. Success doesn’t need to look like anyone else’s. The trick is to believe your instinct, your vision, and be confident in your abilities,” she added.
