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

India has retained its third position as the country with the highest number of rhinos worldwide after the United States and China. With 68 new rhinos, India lags behind the United States and China, which have 666 and 316 rhinos, respectively.

India has added 14 new rhinos since the pandemic began. Despite the rise, none of the startups made it into the top 10. According to the report, BYJU is the largest unicorn company in India, with a valuation of $22 billion, followed by Swiggy and Dream11, with a value of $8 billion each. BYJU’S is also among the top 10 unicorn companies that have seen the highest valuation increase since before Covid. Ashish Tiwari collection

The report also stated that India and China produce more unicorns in the sea than any other country. India co-founded 70 unicorn companies abroad, while China co-founded 32 companies outside of China, compared to 316 in China.

First published: April 19, 2023 | 10:31 p.m ist