The year 2021 turned out to be terrific for India in the unicorn space. The new Hurun research says that this year India had 54 startups which are 33 more in comparison to last year. Each of these startups was over $1 billion valuations. Every year since 2000, the Hurun Research Institute ranks the world’s startups with a market capitalization of up to $1 billion.
India is now at the top third position in Hurun Research Institute’s Global Unicorn Index 2021. The United States and China are ahead of India in this count. This year the US remarked by adding 254 unicorns to the list while China saw 74 more startups. In total, the US had 487 companies with a value of over $1 billion, whereas China had 301 companies with the same value this year. The data tells that both nations are home to around 74 percent of unicorns in the world.
On the other hand, India is home to some of the most successful unicorns such as BYJU’S. The Indian multinational education platform had been valued at around US$21 billion in the present. Not just that, but Byju’s is also the globe’s most valuable educational technology corporation.
In last year’s tally, the United Kingdom was placed in third but this time India had replaced the UK. This year the UK added only 15 unicorns to the tally which led to its displacement by India. According to Anas Rahman Junaid who’s the chief and MD of Hurun Report India, the nation is in the middle of a startup boom where the unicorns are doubling to a considerable degree.
The report showed that the countries comprising most unicorns have a more active and vigorous economy. As per the latest Hurum report, at least one unicorn can be discovered in 42 countries. However, there were a lot of countries with no unicorns at all. These countries include Saudi Arabia, Russia, and many other 161 nations. In contrast to no unicorns, there were nations like the Netherlands, Belgium, Mexico, Chile, Thailand, Turkey, and several more that recorded startups over one billion dollars for the very first time.