UNICORNOctober 7, 2023 2023-10-07 20:45
India has emerged as the 3rd largest ecosystem for startups globally with over 99,000 DPIIT-recognized startups across 670 districts of the country as of 31st May 2023.
The Indian Unicorns are flourishing in the fast-paced and dynamic economy of today. These startups are not only developing innovative solutions and technologies but are generating large-scale employment.
WHAT IS A UNICORN?
Unicorn is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion.
Geographically, the center of India’s high-tech industry, Bengaluru is India’s unicorn capital with the largest number of unicorns headquarters followed by Delhi (NCR) and Mumbai.
Today, 1 out every 10 unicorns globally have been born in India. Overall, 2021 is experienced an exponential boom when it comes to startups entering the unicorn club. This is a testament to the vibrant startup ecosystem present in India.
2022 has witnessed the birth of 21 unicorns with a total valuation of $ 27 Bn (as of 31st May 2023).
A decacorn is company that has attained a valuation of more than $ 10 Bn.
As of 31st May 2023, 56 companies world over have achieved the decacorn status. India has four startups namely, Flipkart, BYJU’s, Nykaa and Swiggy, added in decacorn cohort.
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