The number of unicorns, or startups over $ 1 billion, will increase by 122 over the next four years to over 200, despite the ongoing “funding winter” that could affect startup valuations. Said Wednesday’s report of Harun Research Institute.

 The number of unicorns is now 84, up from 51 in the same period last year, and there are 122 other unicorns worth more than $ 200 million that could gain unicorn status in the next two to four years.

The otherwise fledgling Indian startup ecosystem is reportedly facing a “funding winter” for a variety of reasons: According to this report, co-authored with ASK Private Wealth,  the 122 companies most likely to win unicorn status are worth $ 49 billion, up 36% from last year.

Venture capital fund Sequoia is the most popular backer for such companies, with 39 out of  122 receiving funding, followed by Tiger Global with 27. So in up to 4 years.

Founded in 2017, Shiprocket, a logistics technology startup, is most likely to achieve unicorn status, followed by quick commerce company Zepto and e-commerce player Turtlemint. “In just one year, the number of unicorns has increased by 65%,” said Anas Rahman Junaid, Managing Director, and Principal Investigator at Hurun India.