Unicorn companies reduced in India: Now their number is reduced to 67, America on top with 703 unicorns

Unicorn companies reduced in India: Now their number is reduced to 67, America on top with 703 unicorns

For the first time in the last four years, the number of unicorn companies in India has decreased. According to the Hurun Global Unicorn Index 2024, the number of unicorn companies in India is expected to decline to 67 in 2023. There were 68 unicorn companies in India in 2022 and 2023. For the first time since 2017, the number of unicorns has decreased. However, unicorns have decreased more in other countries than in India. Startups with a valuation of $1 billion (Rs 8,300 crore) or more are called unicorns. Hurun has removed edutech company Byju’s from the list of unicorns. A year ago, the valuation of Byju’s was more than $22 billion but currently its valuation has fallen drastically to less than $1 billion. The huge fall in valuation of Byju’s is the biggest fall in any startup in the world. 21 unicorns reduced in America and 11 in China. According to the report, so far this year, 42 startups around the world have been left out of the Unicorn Club. This means that their market value remained less than Rs 8,300 crore. Maximum 21 unicorns were reduced in America. In China too, 11 startups were left out of the Unicorn Club. America has the highest number of unicorns, India at third place. According to the index, America is at the top with 703 unicorns and China is at second place with 240 unicorns. In terms of numbers, India remains at third position in the world. This index includes those non-listed companies (unicorns), which were founded in the 2000s. Indians started 109 unicorns outside the country Anas Rehman Junaid, chief researcher, Huran India, says the decline in the number of Indian unicorns in the list of 1,453 unicorns is due to lack of investment in startups despite profits on the equity index. Apart from this, the trend of starting companies outside the country has also harmed the prospects for India. Founders from India started 109 unicorns outside the country, while their number inside the country was 67. ByteDance is the world’s top unicorn. On the top of the global unicorn list is TikTok’s parent company ByteDance, whose valuation is 220 billion dollars i.e. about Rs 16.64 lakh crore. It is followed by Elon Musk’s SpaceX with a valuation of $180 billion and Microsoft-invested startup OpenAI with a valuation of $100 billion. Swiggy and Dream 11 Top Indian Unicorn Food delivery platform Swiggy and fantasy sports company Dream 11 are the highest valued startups in India, the valuation of both is $ 8 billion i.e. about Rs 66.57 thousand crore. After this is Razorpay, whose valuation is 7.5 billion dollars i.e. about 62.41 thousand crore rupees. Swiggy and Dream 11 are ranked 83rd in the world. Whereas Razorpay is at 94th position.

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