Global Unicorn Index 2023

The Hurun Research Institute released the Global Unicorn Index 2023 on 18 April, 2023. After the United States and China, India has retained the third-highest number of unicorns in the world. Swiggy, Dream11 and BYJU’S (ed-tech decacorn)are India’s top unicorns.

Important Points

  • Hurun finds 1361 unicorns in world, up 303 or 29% in last year and 867 or 175% since Covid began.
  • USA led (top rank) with 666 unicorns, up 179 in one year, 49% of world’s total, triple pre-covid days of 203.
  • China second with 316, up 15 in one year and 50% since pre-covid days of 206. china has more unicorns than next 15 countries combined.
  • India retains 3rd place with 68 unicorns, up 14, and 47 since pre-covid

Indian Scenario

  • According to the Global Unicorn Index 2023, Swiggy, a foodtech platform, Dream11, a fantasy gaming company, and BYJU’S, an ed-tech decacorn are India’s top unicorns.
  • BYJU’S is also one of the top 10 unicorn startups worldwide that experienced a significant increase in valuation since the pre-COVID-19 era, with a valuation of $22 billion.
  • The list further disclosed that India has a total of 138 unicorns, out of which 70 were established by Indian co-founders but have their headquarters located outside India, while 68 are based in India.
  • Hurun’s report also revealed that India ranks third in terms of the number of gazelles, which are startups established in the 2000s and valued at over $500 million, not yet listed, and likely to become unicorns within three years.
Classification of start ups

  • Unicorn Start-ups founded after 2000, with a valuation of US$1bn and not yet listed on a public exchange.
  • Gazelles’: Start-ups from the 2000s with a valuation of US$500mn to US$1bn, not yet listed on a public exchange and most likely to ‘go unicorn’ within 3yrs
  • Cheetah A start-up founded after 2000, that has the potential to become a Unicorn in 4 years. Estimated valuations of Cheetahs range from $200mn – $500mn.