Hurun Report: Indian Founders Have More ‘Unicorns’ Outside the Country!
The report on investment in startups said that the year 2024 has seen a slowdown in new unicorn investments, especially compared to the heyday of 2021 as it has become harder for investors to exit after investing in recent years.
Expansion
Indians have founded more unicorns than any other country, according to the Global Unicorn Index 2024, a ranking of the world’s start-ups founded in the 2000s. Indians have co-founded 109 unicorns outside India, while India has 67 unicorns.
Unicorns are basically startups worth at least a billion dollars or more and not yet listed on a public exchange. According to Hurun Research Institute report, India has been ranked third globally with 67 unicorns. Among these, on-demand delivery start-up Swiggy and fantasy sports platform Dream 11 are at the top and their valuation is eight billion US dollars each. After this comes Razorpay whose market value is 7.5 billion US dollars.
“Indian founders co-founded more unicorns in the country than any other country. 109 unicorns were co-founded outside India, while 67 were formed in India,” the report said. According to the index, a notable 95 of the unicorns founded outside India are in the US. At the same time, four unicorns have been established in Britain, three in Singapore and two in Germany.
After the US and China, the most active city for unicorns 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 investments.
The report on investment in startups said that the year 2024 has seen a slowdown in new unicorn investments, especially compared to the heyday of 2021 as it has become harder for investors to exit after investing in recent years.
There haven’t been enough unicorn IPOs to fuel record-breaking stock markets in the US, India and the UK. According to the report, this list of the world’s unicorns can inspire individuals to create value in new sectors and inspire countries and cities to recognize the importance of unicorns to their future economies.
“Yes, some will fail, and when they do, they receive massive media attention, as seen in the media hype in the case of Byju’s, an online education platform in India,” the report said. “Despite this, unicorns are seen as inherently important to the new economy.”
There are unicorns in 53 countries of the world, last year the number of countries with unicorns was 48. The world’s unicorns are spread across 291 cities, up from 271 last year. The US tops the list with 703 unicorns, followed by China with 340 unicorns. According to Hurun report there are 1,453 unicorns worldwide, which is a new world record and an increase of 7 percent or 92 unicorns from last year.
