List of 100 Unicorn Startups in India | [2023 Updated]

India has emerged as the world’s fastest-growing startup ecosystem, boasting 100+ unicorn startups as of 2023. While the concept of unicorn startups is becoming more common, building one is no easy feat. It requires tremendous hard work, dedication, and perseverance throughout the startup journey. In this article, we will delve into what makes a unicorn startup and explore the process of building one.

The term “unicorn startup” combines two words: “unicorn” and “startup.” A unicorn refers to a startup with a valuation exceeding $1 billion, a term coined by venture capitalist Aileen Lee. Startups, on the other hand, are privately owned companies in the early stages of development. Now, let’s delve into the details of what sets a unicorn startup apart and how to build one.

India secured the third position globally in terms of hosting unicorn companies in 2021, surpassing the UK. During that year, India witnessed the birth of 33 new unicorns, while the UK managed only 15. The United States topped the list with 254 unicorns, followed by China with 74, according to the latest available data.

Expressing optimism and support for India’s unicorn culture, Union Minister Rajeev Chandrasekhar, responsible for Entrepreneurship, Skill Development, Electronics & Technology, projected a 10-fold increase in India’s unicorn count over the next 2-3 years, surpassing 1,000. The Indian government also expects the next wave of startup founders to emerge from Tier 2 and Tier 3 cities across the country.

Indian startups raised over $42 billion in funding across 1,584 deals in 2021. The startup ecosystem in India has witnessed the establishment of over 60,000 new startups since 2016, spanning across 56 different sectors. These startups have also generated over 600,000 job opportunities in the country. President Ram Nath Kovind acknowledged the significant contributions of Indian startups in his Presidential address on January 31, 2022, highlighting the new opportunities they are bringing forth.

As 2022 began, India continued to witness the emergence of new unicorns. Mamaearth became the first unicorn of 2022, followed by Fractal Analytics, LEAD School, Darwinbox, DealShare, ElasticRun, Livspace, Xpressbees, Uniphore, Hasura, CredAvenue, Amagi, CommerceIQ, Oxyzo, Games24x7, Open, PhysicsWallah, Purplle, LeadSquared, OneCard, and 5ire.

Now in 2023, there are more than 100 startups that have joined the list which we have given below. These are just a few, we are looking towards Indian market grow more with the coming years!

100+ Unicorn Startups In India 2023

Conclusion

In conclusion, India’s startup ecosystem has experienced a remarkable surge, positioning it as the world’s fastest-growing hub for unicorn startups. With 100+ unicorns and counting, India has outpaced many other countries in terms of fostering entrepreneurial growth and innovation. Building a unicorn startup requires relentless dedication and perseverance, as evidenced by the success stories of numerous Indian startups. The government’s support and the influx of funding from both domestic and international investors have played a crucial role in propelling the growth of these startups. As India enters 2023, the country’s unicorn count is expected to continue rising, with a focus on nurturing startup talent in Tier 2 and Tier 3 cities. The Indian startup ecosystem is a testament to the transformative power of innovation, creating not only valuable businesses but also job opportunities and economic growth for the nation.