India has displaced the United Kingdom and bagged 3rd position in the list of countries with the most number of unicorns. According to the report released by the Hurun Research Institute, it is revealed that India has 54 unicorns whereas the UK has 39 unicorns. The USA and China with 487 and 301 such companies, hold first and second spot respectively. India has elevated from fourth place. Last year the USA stood at first with 233, China at second with 227 , UK at third with 24, India at fourth with 21 and South Korea at fifth with 11.
Key points|
1. The research of Hurun Research Institute on 'countries with most number of unicorns' revealed that, India gained one spot and now stands at top 3 in the list of countries with most number of unicorns. However, the USA and China, like previous years, continue to dominate the list.
2. India has a total of 54 unicorns, added 33 unicorns this year while USA and China has unmatched, 487 and 301 unicorns this year and they added 254 and 74 unicorns respectively, UK which was at 3rd spot last year has 39 unicorns this year and could add just 15 unicorns this year.
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3. India has in total 119 unicorns among which 65 unicorns founded by Indians abroad and 54 in India. Indian Edtech startup company Byju's emerged to be the most valuable unicorn in India, with a total valuation of $21 billion. Mobile ad-tech company InMobi stood second with a valuation of $12 billion and Oyo rooms was the third most valuable unicorn in India with a valuation of $9.4 billion.
4. The research report also mentioned that the overall list saw 673 ’new faces’ and 201 drop-offs this year. Drop-offs were for the reason that either companies went public or were acquired, while some were demoted as their valuations dropped below the set mark of USD 1 billion.
5. The report also mentioned that Bengaluru is the home to the highest number of unicorns in India. Unicorns are those private companies/start-ups which have a valuation of over $1 billion.
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