India retains 3rd spot as unicorn hub in 2023

India retains 3rd spot as unicorn hub in 2023

Daily Current Affairs   /   India retains 3rd spot as unicorn hub in 2023

Change Language English Hindi

Category : Business and economics Published on: April 24 2023

Share on facebook
  • India emerges as the third-largest unicorn hub with 68 startups valued at $1bn+
  • India has solidified its position as the third-largest hub for startup unicorns, with a total of 68 companies valued at over $1 billion, according to The Hurun Research Institute’s Global Unicorn Index 2023. 
  • Edtech giant BYJU’S leads the way in India with a valuation of $22 billion, followed by food delivery and quick commerce startup Swiggy and fantasy sports platform Dream11, both worth $8 billion.
  • The report also revealed that 70 unicorns were founded by Indian co-founders outside of India, bringing the total number of unicorns founded by Indians globally to 138. 
  • The majority of these were founded in the US, with 64, while two were founded in the UK, and one each in Germany, Singapore, Indonesia, and Mexico.
  • The number of unicorns globally has risen to 1,361, up 303 from last year, with the US leading the way with 666 unicorns, while China comes second with 316 unicorns.
  • The term unicorn refers to a privately held startup company with a value of over $1 billion. It is commonly used in the venture capital industry.
Recent Post's

  • The Constitution (106th Amendment) Bill, 2023 failed in Lok Sabha as NDA secured only 278/489 votes, falling short of the two-thirds majority for 33% women’s reservation and seat expansion to 816.

    Read More....

  • Gautam Adani became Asia’s richest with $92.6 billion, surpassing Mukesh Ambani ($90.8 billion) and ranking 19th globally.

    Read More....

  • Sayani Gupta was named 2026 Person of the Year by the Harvard South Asian Association for her contribution to film and representation.

    Read More....

  • Food Safety and Standards Authority of India banned ashwagandha leaves in supplements, allowing only roots and their extracts for safety compliance.

    Read More....

  • The Cabinet led by Narendra Modi approved the Bharat Maritime Insurance Pool with a ₹12,980 crore sovereign guarantee.

    Read More....

  • Oscar Schmidt, Brazil’s basketball legend, died at 68 after a long battle with a brain tumor.

    Read More....

  • The Cabinet extended Pradhan Mantri Gram Sadak Yojana-III till March 2028 with an outlay of ₹83,977 crore.

    Read More....

  • A humanoid robot by Honor finished the Beijing half marathon in 50:26, beating humans and the 57:20 record of Jacob Kiplimo.

    Read More....

  • The World Bank approved a $225 million loan for Rajasthan highway modernisation benefiting over 3 million people.

    Read More....

  • NASA approved the ROSA project to support European Space Agency’s Rosalind Franklin Mars mission set for 2028 launch.

    Read More....