BYJU’S, Swiggy & Dream11: Hurun’s Global Unicorn
Index 2023 unveils India’s top unicorns

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Third-largest
startup ecosystem

India retained its position as the country with the third-largest number of unicorns in the world after US and China in the recently released Hurun Global Unicorn Index 2023. [{ "selector": ".fjqqj-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 465px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".zzdpa-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

Housing 138 unicorns

India has 138 unicorns out of which 68 are located in India and 70 are founded by Indians but are headquartered outside. Here are the top Indian start-ups that topped the charts, according to the Hurun report. [{ "selector": ".fwouo-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 444px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }, { "selector": ".gswlx-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }]

BYJU’s

- Founders: Byju Raveendran and Divya Gokulnath - Year of inception: 2011 - Investors: SoftBank, Tiger Global - Headquarters: Bengaluru - Segment: Edtech - Valuation: $22 billion [{ "selector": ".inxeu-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".pdxjo-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(-151.78124876696654px)", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

Swiggy

- Founders: Sriharsha Majety and Nandan Reddy - Year of inception: 2014 - Investors: Goldman Sachs, Bessemer Venture Partners, Norwest Venture Partners, Accel, and others - Headquarters: Bengaluru - Segment: Foodtech - Valuation: $8 billion [{ "selector": ".tgfmc-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".epfxs-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 404px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

Dream11

- Founders: Harsh Jain and Bhavit Sheth - Year of inception: 2008 - Investors: Tencent, Kalaari Capital, Chimera, and others. - Headquarters: Mumbai - Segment: Fantasy sports - Valuation: $8 billion [{ "selector": ".airpd-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".aasij-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 428px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

A land of unicorns
& gazelles

India also has the third-highest number of gazelles. According to Hurun, a gazelle is a startup founded in the 2000s, which is worth over $500 million, is not listed yet, and is most likely to become a unicorn within three years [{ "selector": ".gztsf-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".lnwwm-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 442px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

Top investors

Sequoia Capital, Tiger Global Management, and SoftBank are the top investors that have funded the most number of unicorn startups across the world. [{ "selector": ".bjnxt-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".tjfbu-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 441px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

Investors’ unicorn count

Sequoia Capital- 238 Tiger Global Management- 179 SoftBank-168 [{ "selector": ".jsxza-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".pbjwp-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 470px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

Other unicorn investors

Others on the list were Goldman Sachs, Y Combinator, Accel, Tencent, and Lightspeed Venture Partners, among others. [{ "selector": ".zeckq-a", "duration": "1000ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0}, {"offset": 1, "opacity": "1"} ] }, { "selector": ".zxjqm-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateY(calc(600px - 461px))", "opacity": "1"}, {"offset": 1, "transform": "translateY(0)", "opacity": "1"} ] }]

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BYJU’S, Swiggy & Dream11: Hurun’s Global Unicorn Index 2023 unveils India’s top unicorns

Produced by: Bhavya KaushalDesigned by: Pragati

Third-largest startup ecosystem