India retains third spot as a unicorn hub, shows Hurun report

India has retained its 3rd spot as the country with the highest number of unicorns worldwide after the US and China. With 68 new unicorns, India lags behind the US and China, which have 666 and 316 unicorns, respectively.

India added 14 new unicorns since the pandemic began. Despite the rise, none of the start-ups made it to the top 10.  According to the report, BYJU’s is the top-most unicorn in India, with a valuation of $22 billion, followed by Swiggy and Dream11, valued at $8 billion each. BYJU’S is also among the top 10 unicorns that saw the highest increase in valuation since pre-Covid.            Compiled by Ashish Tiwari

 

The report also mentioned that India and China produce more offshore unicorns than any other country. Founders from India co-founded 70 unicorns outside, while China co-founded 32 outside of China, compared with 316 in China.