Number of unicorn start-ups in India
India's unicorn ecosystem has experienced significant growth since its first unicorn, InMobi, emerged in 2011. The ecosystem saw a surge in 2021 and 2022. However, 2024 marked a recovery with six new unicorns, including notable entries like Krutrim (generative AI), Ather Energy (cleantech), and Rapido (mobility) India ranks third globally in the number of unicorns, following the United States and China. The Indian government's initiatives, such as "Startup India," have played a pivotal role in fostering this growth by offering favorable policies, funding programs, and tax incentives. The diverse sectors represented among India's unicorns—including fintech, SaaS, edtech, healthtech, and mobility—highlight the country's dynamic and evolving startup landscape