According to the report by the Hurun Research Institute, India was placed third globally with 67 unicorns, led by on-demand delivery start-up Swiggy and fantasy sports platform Dream11 worth $8 billion each, and Razorpay worth $7.5 billion.
ETtech
Indians have founded more offshore unicorns than any other country, cofounding 109 unicorns outside of India compared with 67 in India, according to the Global Unicorn Index 2024, a ranking of the world's start-ups founded in the 2000s.
According to the report by the Hurun Research Institute, India was placed third globally with 67 unicorns, led by on-demand delivery start-up Swiggy and fantasy sports platform Dream11 worth $8 billion each, and Razorpay worth $7.5 billion.
"One factor is that Indian founders produced more offshore unicorns than any other country, co-founding 109 unicorns outside of India compared with just 67 in India," the report said.
Of the unicorns founded outside of India, significantly all were in the US (95), led by the Bay Area, with four in the UK, three in Singapore, and two in Germany, the Index said.
The most active city for unicorns outside of the US and China was London, followed by Bengaluru, Paris and Berlin.
According to the report, the world's most successful unicorn investors, led by Tiger Global, Softbank and HongShan, highlighted the symbiotic relationship between startups and strategic investment.
On investments in startups, it said the year 2024 has seen a slowdown in new unicorn investments, especially compared with the heyday of 2021 as investor exits prove harder to come by.
The record-breaking stock markets in the US, India and the UK have not delivered significant unicorn IPOs.
"I hope this list of the world's unicorns can inspire individuals to drive value creation in new sectors and for countries and cities to recognise the importance of unicorns to their future economy," it said.
"Yes, some will fail, and when they do it is normally to massive media attention, such as India education platform BYJU, but on the whole unicorns are seen as inherently vital to the new economy," the report said
The world's unicorns come from 53 countries, up from 48 last year, spread around 291 cities, up from 271. The US led with 703 unicorns, followed by China with 340.
Hurun found 1,453 unicorns across the world, a new world record and up 7 per cent or 92 unicorns.
In business, a unicorn is a startup company valued at over US$1 billion which is privately owned and not listed on a share market. The term was first published in 2013, coined by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures.
https://en.wikipedia.org › wiki › Unicorn_(finance)
than any other country, cofounding 109 unicorns outside of India compared with 67 in India, according to the Global Unicorn Index 2024, a ranking of the world's start-ups founded in the 2000s.
According to the latest Hurun Global Unicorn Index 2024, India currently has 67 unicorns, down from 68 the previous year. However, the country maintained its position as the world's third largest hub for unicorns. The United States led the list with 703 unicorns, up 37 from 2022, while China had 340 unicorns.
India is expected to add at least 152 unicorns, or startups valued at more than US$ 1 billion, from 31 cities in the next 3-5 years to its current tally of 67 unicorns, according to the ASK Private Wealth Hurun India Future Unicorn Index 2024.
India currently has a whopping sum of 111 unicorn startups in almost every industry, ranging from E- Commerce to Healthtech to EdTech to SaaS to much more.
While work from home during the pandemic fueled the growth of digital businesses in India, the incident also resulted in a long unicorn list. Mainly three factors, a thriving digital payments ecosystem, large smartphone user base and digital-first business models, have come together to attract investors.
The US has the highest number of unicorn companies worldwide with an impressive 668 - over three times more than China in second place (172). Unicorn companies in the US have a combined valuation of over $2 trillion, accounting for over half (54 per cent) of the total valuation of unicorn companies, the report notes.
To my mind, this is what makes Estonia a start-up nation. When you come and visit us – you will have a chance to see the ten unicorns in their natural habitat.
Much of this growth was driven by the world's China-plus-one strategy as well as India's own rapid adoption of internet-enabled services. For the second year in a row, India also added more unicorns (23) than China (11). This, despite the fact that no new unicorns were added by India in the last quarter of 2022.
Unicorn is a term given only to startups having a billion-dollar valuation. Startups that exceed the valuation of USD 10 billion are grouped under the term 'decacorn' (a super unicorn). Dropbox, SpaceX, and WeWork are some reputed examples of decacorns.
According to the Hurun Global Unicorn Index 2024 report, the pace of creation of unicorn startups in India has slowed since 2017. However, India is still the third largest hub of unicorns in the world after the United States of America and China.
Unicorn is the term used in the venture capital industry to describe a startup company valued at over $1 billion. The term was first coined by venture capitalist Aileen Lee in 2013. Some notable unicorns include Uber Technologies Inc.(UBER), Robinhood Markets Inc.
According to the Hurun Global Unicorn Index 2024 report, the pace of creation of unicorn startups in India has slowed since 2017. However, India is still the third largest hub of unicorns in the world after the United States of America and China.
The Indian startup ecosystem has seen the entry of 110 startups to the unicorn club to date. These startups are collectively valued at $347 Bn and have raised over $99 Bn in funding.
Unicorns in India are seen as game-changers in their respective industries and have the potential to reshape markets or create new ones. Examples of well-known unicorn startups include BYJU's, Swiggy, OYO Rooms, Dream11, Razorpay, and Ola Cabs.
Bengaluru had the highest number of Unicorns of about six in 2022 compared to other Indian cities. Dealshare, amagi, and Hasura were some of the unicorns based in Bengaluru.
Introduction: My name is Arielle Torp, I am a comfortable, kind, zealous, lovely, jolly, colorful, adventurous person who loves writing and wants to share my knowledge and understanding with you.
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