Hurun's Global Unicorn Index 2023 Labels Swiggy, BYJU'S, And Dream11 As India's Top Unicorns
As per Hurun’s Global Unicorn Index, India has retained its position as the country with world's 3rd largest number of unicorns
Fantasy gaming platform Dream11, food-tech company Swiggy, and ed-tech decacorn BYJU'S are India’s top unicorns, according to the Global Unicorn Index 2023 by Hurun. The report released on Tuesday revealed that India has retained its position as the country with the world's third-largest number of unicorns after the US and China.
With a valuation of $22 billion, BYJU'S also ranks among the top 10 unicorn start-ups across the world that saw a significant jump in valuation since the pre-Covid-19 era. According to the list, Dream11 and Swiggy are both valued at $8 billion each.
Hurun’s Global Unicorn Index 2023 also reported that the number of Indian unicorns established outside India is greater than those located within the country. It also revealed that India has 138 unicorns in total, of which, 70 were set up by Indian co-founders, but are headquartered outside India, while 68 unicorns are based in India.
The Hurun Global Unicorn Index 2023 also suggests that in terms of the number of gazelles, India ranks third. Gazelles are start-ups that are worth over $500 million, are not yet listed, and are most likely to become unicorns within three years.
However, India ranks fifth in the Hurun Global 500 Index, which is a list of the 500 most valuable non-state-controlled businesses across the world.
The report also added that India and China have a higher proportion of gazelles and unicorns. This is expected to translate into a higher number of Hurun Global 500 companies in the course of the next five years. On the other hand, countries like France, Australia, and Canada, with a lower proportion of unicorns and gazelles, are likely to lose their positions on the Hurun Global 500 list.
In terms of investors, Sequoia Capital, Tiger Global Management, and SoftBank are the top three unicorn investors who have invested in 238, 179, and 168 unicorn start-ups, respectively. Goldman Sachs, Y Combinator, Accel, Tencent, and Lightspeed Venture Partners are some of the other investors on the list.