India Becomes The Third-Largest Unicorn In The World
Adding 33 'unicorns' in a single year has helped India displaced the UK to be third in the list of countries that are home to such enterprises. However, the US and China who occupy the first two ranks, are way ahead, according to the data compiled by Hurun Research Institute.
The Hurun research Institute's Global Unicorn Index 2021 is a ranking of the world's start-ups founded in the 2000s, are worth at least a billion dollars, and are not listed on a public exchange. The cut-off date for the list was November 30. The US added 254 unicorns and now total 487 companies in the coveted list, While China added 74 to take its tally to 301 startups India saw 54 unicorns, with Byju's being the front runner. Adtech unicorn Inmobi with $12 billion valuation is second on the list, followed by OYO with $9.5 billion valuation, Razorpay with $7.5 billion, Ola with $7 billion, Pharmacy and Swiggy at $5.5 billion, Dream11 and Ofbusiness with $5 billion, Browerstack, CRED, Meesho & Zerodha with $4.4 billion valuation. Byju's Inmobi, OYO, Razorpay & Ola are also ranked in the top 100 unicorns in the world.
The top-two occupants are home to 74% of the unicorns universe, adding that the overall lot saw 673 'new faces' and 201 drop-offs, 28% or 162 companies were 'promoted'out of the unicorn list, after going public or being acquired, while 7% of 39 companies were 'demoted', after their valuations dropped below $1 billion.
Hurun research said India led the way for emigrant unicorn founders, followed by China, Isreal and Russia. According to the report, Indians have found 65 unicorns outside India, including postman, Innovaccer, Icertis, Moglix among others. The report further noted that Bengaluru is home to the highest number of unicorns among Indian cities. The report noted that Sequoia was the most successful unicorn investor in the world. While, Tiger fund overtook Softbank to make up the 'big-three' of the world's most successful unicorn investors. Majority of such investors are based in US, followed by China, Singapore and UK.
India is in the midst of a start-up boom. Whilst there are a further 65 unicorns founded by Indians abroad, mainly in silicon valley, the percentage of homegrown unicorn has increased from one third to 45% suggesting that the start-up ecosystem in India is maturing.