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According to a report by Hurun Research, D2C brand Mamaearth has grown its average revenue by 491% in the last year, topping Hurun’s list of companies to have raised private equity investment in 2021. In the second place is integrated pharmaceuticals company Encube Ethicals, which grew 343%, followed by logistics provider Ecomm Express, which grew 283%.

Hurun Research has compiled a list of 125 Indian companies that raised at least a single round of funding of $25 million or more in the calendar year of 2021 and shortlisted 21 companies that fit the performance and funding criteria of the Practus Hurun India PE Performers 2022 list.

As reported by Business Standard, of the 103 investors who took part in investing rounds, 35 private equity players invested in the shortlisted companies, including the two unicorns Mamaearth and Ecomm Express. Sequoia Capital was the top investor on the list with four investments, including investments in two unicorns.

YourStory has not independently verified this report.

Deepak Narayanan, CEO & Founder, Practus, said India has seen a surge in private equity funding over the last decade, culminating in a $70-billion infusion in 2021. This number is 96% higher than the PE funding in 2020.