According to a recent report by Forex.com, India's count of unicorns—companies valued at $1 billion or more—has decreased to 72, collectively valued at $195.75 billion, down from over 100 unicorns last year. This positions India as the third-largest hub for unicorns globally, trailing behind the US with 668 unicorns and China with 172, based on data sourced and analyzed from CB Insights.
Despite India's unicorns having a comparatively lower average valuation per company ($2.72 billion), their cumulative value represents a significant 5% share of the total global unicorn valuation, aligning India closely with the stature of the UK in the global startup landscape.
The US leads the global unicorn count by a considerable margin with 668 companies, collectively valued at over $2 trillion, constituting more than half (54%) of the total unicorn valuation globally.
The research further emphasizes that the enterprise tech sector dominates the global unicorn landscape, encompassing 377 companies with a combined valuation surpassing $1 trillion. Canva, valued at $40 billion, stands as the highest-valued company within this sector and holds the fifth position among all global unicorn companies. Projections indicate sustained growth and an increased total valuation for the enterprise tech sector by 2027.
Within financial services, 216 unicorn companies contribute to a combined valuation of $706 billion. Stripe, valued at $50 billion, holds the highest valuation in this sector and ranks fourth globally.
Interestingly, although the consumer and retail industry shares an equal count of 216 unicorn companies with financial services, the former has a slightly higher total valuation of over $631 billion. Shein, valued at $66 billion, leads within this sector, ranking third globally. Remarkably, Shein's valuation surpasses the combined valuation of all 27 unicorn companies in the insurance industry, which totals $57.83 billion, as mentioned in the report.
(With Agency Inputs)
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