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MUMBAI: For the first time, India has seen a drop in number of startup unicorns from 68 to 67, according to the Hurun Global Unicorn Index. In 2024, the US added 70 new unicorns, China added 56 new unicorns, and the rest of the world added 45 new unicorns. US and China also saw most number of dropouts, with 21 and 11 companies ceasing to be unicorns.
After accounting for dropouts, the US increased its unicorn tally to 703, China to 340.India figures at number three. In case of Australia, Sweden, and UAE, number of unicorns declined by one each.
The latest report by Hurun shows 171 unicorns added in the past year globally. Total number of unicorns now stands at 1,453, a new world record and registers a 7% increase. Byjus was the largest unicorn in value to drop out of the list globally, while OpenAI and SpaceX witnessed significant valuation increases. The report also highlights emergence of new unicorns in various sectors and regions, with fintech, AI, blockchain, and new energy being the fastest-growing sectors this year and fintech leading the pack.
Regarding India’s unicorn landscape, Anas Rahman Junaid, founder and chief researcher at Hurun India, said, “India’s startup ecosystem has slowed down. This is primarily due to the lack of investment in startups.”
After accounting for dropouts, the US increased its unicorn tally to 703, China to 340.India figures at number three. In case of Australia, Sweden, and UAE, number of unicorns declined by one each.
The latest report by Hurun shows 171 unicorns added in the past year globally. Total number of unicorns now stands at 1,453, a new world record and registers a 7% increase. Byjus was the largest unicorn in value to drop out of the list globally, while OpenAI and SpaceX witnessed significant valuation increases. The report also highlights emergence of new unicorns in various sectors and regions, with fintech, AI, blockchain, and new energy being the fastest-growing sectors this year and fintech leading the pack.
Regarding India’s unicorn landscape, Anas Rahman Junaid, founder and chief researcher at Hurun India, said, “India’s startup ecosystem has slowed down. This is primarily due to the lack of investment in startups.”
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