India currently has 105 unicorns and this number is expected to increase by 140% in the next three years. According to Inc42’s latest ‘The State of Indian Startup Ecosystem Report 2022’, India will have 250 unicorns by 2025, second only to the US, which currently has 618 unicorns.
The data suggests that India is now minting unicorns faster than any other country in the world, leaving China, which has 174 unicorns, behind to take the crown. Israel closely follows India with 96 unicorns and is on its way to entering the three-figure mark.
It is worth noting that India produced nearly three-fifths (63) of its unicorns in the last 20 months. The year 2022 has so far produced 19 unicorns, which is almost 44% of all the unicorns minted in 2021. The country’s 105 unicorns are valued collectively at $341 Bn, having raised $93 Bn in funding over the past two decades.
Indian Startups Turning Unicorn Faster Than Ever
Inc42’s ‘The State of Indian Startup Ecosystem Report 2022’ indicates that Indian startups are turning unicorns in half the time post-2010 as compared to the time taken by them before 2010.
Thrasio-styled ecommerce rollup startups Mensa Brands (six months) and GlobalBees (eight months) took the shortest time to turn into unicorns, with both of them reaching the $1 Bn valuation mark in less than a year. Further, 38 startups turned unicorns in five years or under, according to Inc42 data.
Read More at https://inc42.com/buzz/india-creating-unicorns-faster-china/
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