April 9 (Punjab Khabarnama) : India ranked third on the global list of unicorns but was far behind the US and China who had 703 and 340 high growth start-ups respectively. India has a total of 67 unicorns in the list, as per a report by The Hurun Research Institute, according to which drop-outs from the chart in 2023 were Byju’s and PharmEasy. In total, there are a total of 1,453 unicorns in the world as one unicorn is made every two days over the last year, the report said.
Which is the most valuable unicorn?
TikTok owner ByteDance was the world’s most valuable unicorn worth $220 billion. The total value of the world’s unicorns reached $5 trillion which is equivalent to the GDP of Japan. The fastest valuation rise of a unicorn was credited to OpenAI which saw an addition of $80 billion in value, followed by SpaceX that added $43 billion.
What the report said on India’s unicorn ecosytem?
Hurun India founder and chief researcher Anas Rahman Junaid said, “India’s start-up ecosystem has slowed, primarily fuelled by lack of investment into start-ups despite the recent stock market record highs. Another factor is that founders from India produced more offshore unicorns than any other country, co-founding 109 unicorns outside of India compared with 67 in India.”
“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. While it’s encouraging to see the rise of Krutrim, India’s first AI unicorn, there remains a substantial gap when compared to the US and China, which lead with 60 and 37 AI unicorns, respectively,” he explained.
Which are the most active cities for unicorns?
Hurun Report chairman and chief researcher Rupert Hoogewerf said, “The most active city for unicorns outside of the US and China was London, followed by Bengaluru, Paris and Berlin.”
