India overtakes UK, has 3rd largest unicorns in world: Hurun report

Indian startups were led by online educator BYJU's worth US $21 billion, followed by mobile ad-tech firm InMobi worth US $ 12 billion and travel stay finder OYO Rooms worth US $ 9.5 billion.

By Newsmeter Network  Published on  23 Dec 2021 6:37 AM GMT
India overtakes UK, has 3rd largest unicorns in world: Hurun report

Hyderabad: India has the third-largest unicorns in the world after the USA and China. India currently houses 54 unicorns, more than double it had last year.

According to the latest Global Unicron Index 2021 released by Hurun Research Institute, the total value of all the unicorns in the world doubled to US $ 3.7 billion. The USA topped the index with 487 unicorns, followed by China with 301 unicorns. The UK was pushed down to the fourth place with 39 unicorns.

Hurun Research Institute has classified startups as Unicorns, Gazelles, and Cheetahs. According to their definition, Unicorns are startups founded after the year 2000 with a valuation of US $1biiolin. Gazelles are startups that are most likely to go unicorn in the next two years. Cheetahs are the startups that could go Unicorn in the next four years.

Indian startups were led by online educator BYJU's worth US $21 billion, followed by mobile ad-tech firm InMobi worth US $ 12 billion and travel stay finder OYO Rooms worth US $ 9.5 billion.

Anas Rahman Junaid, MD and Chief Researcher at Hurun India said, "India is in the midst of a start-up boom, more than doubling its unicorns to take the country's official tally of unicorns to 54, and overtake the UK to third place in the world. While there are a further 65 unicorns founded by Indians abroad, mainly in Silicon Valley, the percentage of homegrown unicorns have increased from one third to 45%, suggesting that the start-up ecosystem in India is maturing."

Out of the top 10 startups in the world, 4 are from the USA, 3 from China, and 1 each from Sweden, the UK, and Australia.

Meanwhile, ten countries in the world didn't have a unicorn- Italy, Russia, Saudi Arabia, Poland, Venezuela, Egypt, Bangladesh, South Africa, Pakistan, and Romania.

Global Unicron Index is prepared to highlight the world's most successful startups.

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