Unbeknownst, the falling Indian currency 78 INR mark rate against the US dollar for the first time helped Indian marketers, that is, somehow created a smooth way to one step ahead in achieving the fifth-largest economy in India.
As we know to excel in the business challenges, startups must take necessary actions in evolving tech, a shift in consumer preferences by adopting new product strategies, and frame objectives according to economic policies.
Some Indian unicorns overcame the following challenges as they introduced indulgent, efficient, and customer-centric products. In this regard, India ranks as the third largest unicorn-producing country in the world, with 106 unicorns competing against the USA and China.
Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
Bangalore
Mumbai
Gurgaon
New Delhi
Pune
Chennai
Noida
Hyderabad
Goa
Jaipur
Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
According to IMF sources, India has surpassed the UK in the final three months of 2021 to become the world’s 5th largest economy, following the USA, China, Japan, and Germany in 2022.
Known for being the key pillar of the Indian economy, India’s startup ecosystem is a kick start to GDP growth, whereby the country achieved the milestone of 100 unicorns in May 2022.
Bangalore
We immediately conjure up an image of the country’s IT hub whenever we hear “Bangalore”, don’t we? Bangalore, as we all know, is a happening city in India with many tech-based companies and growing career opportunities. Bangalore is home to 43 unicorns out of 106 in India.
The city has a nurturing ecosystem that is known for its IT sector and ability to build top tech brands. By leveraging talented fellows, adopting cutting-edge technology, connecting with opulent inventors, and collaborating with multinational R&D centers.
Thereby, established top-most brands in achieving the $1 Billion mark within a short span and ultimately contributed 37% of unicorns of the nation in terms of leading sectors as Fintech 20% and SaaS 12% contribution of unicorns. Bangalore has earned the title of the top city in India for producing unicorns across industries like e-commerce, logistics, and ed-tech.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| NoBroker | PropTech | 2014 | 2021 |
| Apna | Marketplace- Employment | 2019 | 2021 |
| BlackBuck | Logistics | 2015 | 2021 |
| Zeta | Fintech | 2015 | 2021 |
| VerSe | Content Technology | 2007 | 2020 |
| Zerodha | Stockbroker | 2010 | 2020 |
| Flipkart | E-commerce | 2007 | 2012 |
| Ola | Transportation | 2010 | 2015 |
| Ola Electric | Automotive | 2017 | 2019 |
| BigBasket | E-commerce- Groceries | 2011 | 2019 |
| BYJU’S | Edtech | 2011 | 2018 |
| Udaan | E-commerce | 2016 | 2018 |
| Swiggy | Foodtech | 2014 | 2018 |
| Glance/ InMobi | Mobile Technology | 2019 | 2020 |
| PhonePe | Fintech Payments | 2015 | 2020 |
| RazorPay | Fintech | 2014 | 2020 |
| Unacademy | Edtech | 2015 | 2020 |
| Slice | Fintech | 2016 | 2021 |
| Acko | Insurtech | 2016 | 2021 |
| Mensa Brands | Financial Services | 2021 | 2021 |
| CoinSwithch | Cryptocurrencies | 2017 | 2021 |
| Licious | E-commerce Meat Products | 2015 | 2021 |
| MPL (Mobile Premier League) | ESports | 2018 | 2021 |
| Zetwerk | Marketplace- Consumer goods | 2018 | 2021 |
| Groww | Fintech | 2017 | 2021 |
| CRED | Financial Technology | 2018 | 2021 |
| Meesho | E-commerce | 2015 | 2021 |
| Digit Insurance | Insurance | 2016 | 2021 |
| ShareChat | Social Media | 2015 | 2021 |
| 5ire | Blockchain Network | 2021 | 2022 |
| DailyHunt | Social News | 2007 | 2020 |
| LeadSquared | SaaS- CRM | 2011 | 2022 |
| Open | Fintech | 2017 | 2022 |
| Hasura | SaaS- Programming Tools | 2017 | 2022 |
| LivSpace | E-commerce Interior Design | 2014 | 2022 |
| Vedantu | Edtech | 2011 | 2021 |
| CureFit | Healthcare | 2016 | 2021 |
| DealShare | E-commerce | 2018 | 2022 |
| Amagi | Media, Advertising | 2008 | 2022 |
| CommerceIQ | E-commerce Management Platform | 2012 | 2022 |
| Mohalla Tech (Moj) | Software | 2015 | 2021 |
| Postman | Saas- API Development and Testing | 2014 | 2020 |
| InMobi | Adtech | 2007 | 2011 |
Anik Banerjee
Mumbai
In no doubt, Mumbai has earned the deserving title of ‘the city of dreams, a place where many entrepreneurs have started their careers. As is the case, Mumbai is the richest city in the country with a homeland of 72 billionaires living and contributing $310 Billion toward the GDP of the country.
Countless startups have been launching every day in Mumbai in terms of e-commerce, Fintech, Enterprise Tech, and Travel Tech to M&E sectors thus estimating 14% unicorns in India.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| Dream11 | Fantasy Sports | 2008 | 2019 |
| BillDesk | Marketplace- Employment | 2019 | 2021 |
| Nykaa | E-commerce | 2012 | 2020 |
| PharmEasy | Online Pharmacy | 2015 | 2021 |
| Rebel Foods | E-commerce Food Delivery | 2011 | 2021 |
| Upstox | Fintech | 2010 | 2021 |
| Eruditus | Edtech | 2010 | 2021 |
| upGrad | Edtech | 2015 | 2021 |
| BrowserStack | Cloud Infrastructure and Software | 2011 | 2021 |
| CoinDCX | Cryptocurrency Exchange | 2018 | 2021 |
| Gupshup | Software | 2004 | 2021 |
| Purplle | E-commerce Personal Care | 2012 | 2022 |
| Games 24×7 | Gaming | 2006 | 2022 |
| MyGlamm | Personal Care Marketplace | 2015 | 2021 |
| LEAD | Edtech | 2012 | 2022 |
| Fractal Analytics | SaaS- Analytics | 2000 | 2022 |
| Infra.Market | B2B E-commerce | 2016 | 2021 |
| CitiusTech | Healthcare Technology | 2005 | 2019 |
| Matic Network / Polygon | Blockchain | 2018 | 2021 |
Gurgaon
It accounts for more than 70% of unicorns in Delhi, as they are based in the Gurgaon region. The city has opened various portals for opportunities. Second-largest information technology hub and third-largest financial hub in India, Gurgaon is home to a slew of multinational corporations.
Since it houses top IT companies and fortune 500 companies, the city has been nicknamed ‘Cyber city’. With 13% of the total unicorn percentage in India, Gurgaon stands third in unicorn production.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| Oxyzo | Fintech | 2016 | 2022 |
| Mamaearth | E-commerce Personal Care | 2016 | 2021 |
| Spinny | Automotive | 2015 | 2021 |
| Mobikwik | Fintech | 2009 | 2021 |
| OfBusiness | Building Materials | 2015 | 2021 |
| Droom | Marketplace- Automotives | 2014 | 2021 |
| BlinKit | E-commerce- Groceries | 2013 | 2021 |
| Urban Company | Home Services | 2014 | 2021 |
| CARS24 | B2C E-commerce | 2015 | 2020 |
| OYO | Hospitality | 2013 | 2018 |
| Rivigo | Logistics | 2014 | 2019 |
| PolicyBazaar | Insurance company | 2008 | 2018 |
| Zomato | Foodtech | 2008 | 2015 |
| Tata 1mg | HealthTech | 2015 | 2022 |
| MakeMyTrip | Online Travel | 2000 | 2010 |
| ReNew Power | Renewable Energy | 2011 | 2017 |
| Pristyn Care | Healthtech | 2018 | 2021 |
New Delhi
New Delhi is not only the capital of India but lately, reformed into a new startup capital of India. Moreover, India will become the 3rd biggest economy in the world in 2022, and Delhi has become a hotspot for several startups and unicorns around India as well.
Gurgaon and Noida are the most prominent hotspots. Delhi is now home to 10 unicorns, with an estimation of roughly 1 billion dollars. And as of 2022, Delhi-NCR has a market worth 46 to 56 million dollars. Moreover, Delhi is reported to have the most Indian unicorns in a short span, and its startup ecosystem is growing exponentially.
Approximately 12,000 startups, 30 unicorns, and a cumulative valuation of about $150 billion could be based in Delhi-NCR by 2025, making it one of the top 5 global startup hubs. Delhi NCR contributes roughly 6.6% to the Indian unicorns.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| BharatPe | Fintech Payments | 2018 | 2021 |
| Delhivery | E-commerce Logistics Services | 2011 | 2019 |
| Lenskart | E-commerce- Eyewear | 2010 | 2019 |
| ShipRocket | eCommerce shipping | 2017 | 2022 |
| GlobalBees | E-commerce Retail | 2021 | 2021 |
Pune
One fine feature in unicorns at Pune is women leading the start-up culture. Pune has 3200 Startups, on the other hand, Mumbai has 3274 Startups, which may compete against each other in the future in a healthy way.
Moreover, the Sci-Tech Park (established by the Ministry of Science and Technology, Government of India, and the University of Pune in 1986) alone has 153 startups.
As a result of Pune’s exceptional position to support start-ups and its proximity to industry, IT, and the best academic institutions, international collaboration among start-ups has increased over the past few years. Pune’s contribution to unicorns is approximately 5.7% as of a recent survey.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| ElasticRun | E-commerce Logistics | 2015 | 2022 |
| XpressBees Logistics | E-commerce Logistics | 2015 | 2022 |
| FirstCry | E-commerce | 2010 | 2020 |
| Icertis | Saas- Contract Management | 2009 | 2019 |
| Druva Software | Saas- Data Management | 2008 | 2019 |
| OneCard | Fintech | 2018 | 2022 |
| MindTickle | Saas- Enterprise Software | 2011 | 2021 |
Chennai
Since Chennai city has failed to invest enough in startups in the last ten years, speed has finally picked up now, with a new administration in place. In a recent study, Tamil Nadu has a well-rounded business ecosystem spanning sectors, particularly in the industrialization sector.
However, compared to Bangalore, Mumbai, and Delhi, it still struggles to fit in. Moreover, several experts are believed to turn Chennai from Tamil Nadu into i-Tamil Nadu Technology, a hub for technology and a better startup ecosystem. Chennai as well pitches in 6.7% of the Indian unicorn sectors to the economy.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| Five Star Business Finance | Financial Services | 1984 | 2021 |
| Uniphore Software Systems | SaaS- Conversational Automation | 2008 | 2022 |
| CredAvenue/ Yubi | Fintech | 2017 | 2022 |
| ChargeBee | Financial Services | 2011 | 2021 |
| Freshworks | SaaS – CRM | 2010 | 2018 |
Noida
In addition to Delhi, Noida has also bagged the title of a prosperous startup hub. The city is now a gateway for various global corporations. The city might be from Uttar Pradesh but emerged just like Delhi NCR when it comes to an industrial and manufacturing hub.
Noida has wide roads, and expressways in addition to greeneries, and for this reason, Noida is at present an up-and-coming city with an impressive startup ecosystem.
Moreover, it is near the Industrial Development Authority, Delhi, which makes good connectivity to the capital city, access to profitable talent, and cost-effective operations. Meanwhile, Noida extends 3.8% of the Indian unicorn sector’s income to the economy.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| Moglix | B2B E-commerce | 2015 | 2021 |
| PhysicsWallah | Edtech | 2016 | 2022 |
| Pine Labs | Fintech | 1998 | 2020 |
| Paytm | E-commerce Finance | 2010 | 2015 |
| Paytm Mall | E-commerce | 2017 | 2018 |
Hyderabad
When there is a discussion about startup cities, Hyderabad also needs to be mentioned. Even though not many of the startups have turned into unicorns here, the number of budding startups here is quite high.
In the span of 3 years, from 2019 to 2021, approximately 933 startups were created here. It is not wrong to estimate that some of the smartest startups have been based in Hyderabad. And when it comes to unicorn startups, Hyderabad is home to 3 unicorns in India.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| Darwinbox | SaaS- HR | 2015 | 2022 |
| Highradius | Fintech | 2006 | 2020 |
| Zenoti | Saas- Spa and Salon Services | 2010 | 2020 |
Goa
Goa is highly acknowledged for its natural component. However, the government there is keen on making it a startup destination across India. Undoubtedly, Goa is home to many small and large startup businesses. Apart from that, Goa is also home to health based unicorn startup named Molbio Diagnostic.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| Molbio Diagnostic | HealthTech | 2010 | 2022 |
Jaipur
The Pink city of India also provides a suitable culture for numerous startups to grow in it. The Ecosystem of Jaipur Startups is ranked at 7th position in India and 212th position globally. Jaipur is now home to one Indian Unicorn company and has many more coming in the future.
| Startup Name | Industry | Founding Year | Unicorn Entry Year |
|---|---|---|---|
| CarDekho | E-commerce Automotives | 2007 | 2021 |
Conclusion
On the whole, India has over 106 unicorns, all segregated in cities like Delhi, Bangalore, Chennai, Gurgaon, Noida, Hyderabad, Jaipur, Goa, and Mumbai. So far, India has globally earned recognition for its unicorns, and this may be one of the reasons why India is ranked third in the world economy.
FAQs
Which Indian state has the most unicorns?
Karnataka is home to the maximum number of unicorns.
Which city has the most unicorns?
Bengaluru has the most number of unicorns.
Which country has the most unicorns?
The United States has the highest number of unicorns in the world with a tally of 865 unicorns followed by China with an account of 224 unicorns.
Which is India’s 100th unicorn?
The 100th unicorn of India is a neo-banking platform named “Open”.
