India edges out China in creating new unicorns in the first half of 2022: Hurun report
- IBEF
- September 8, 2022
Despite a slow fundraising winter afflicting South Asian entrepreneurs, India surpassed China in the number of new unicorns—startups valued at US$ 1 billion or more—created in the first half of 2022. According to the Hurun Global Unicorn Index 2022, India added 14 new unicorns during the period, while China added 11. The US topped the list with 138 unicorn startups. This is not the first time India has managed to acquire more unicorns in a short period of time. According to a PwC analysis from the third quarter of FY21, India added ten new unicorns, while China and Hong Kong added seven.
During the first half of 2022, a total of 254 new unicorns were added globally. The US tops the list with 625 unicorns, China comes in second with 312, and India comes in third with 68. Outside of India, 56 unicorns were founded by Indian co-founders. In total, Indians have founded 124 unicorns around the world.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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