New Delhi: With 54 unicorns, India has overtaken UK to rank third within the world rating, says a brand new Hurun India report.
The report, which was launched on Wednesday, exhibits that Bengaluru has extra unicorns than cities comparable to Boston, Palo Alto, Paris, Berlin, Chicago amongst others, with a tally of 28 such firms — the seventh-highest on the earth.
Any start-up that has a valuation of over $1 billion known as a unicorn.
Anas Rahman Junaid, MD and chief researcher of Hurun India, stated, “India is within the midst of a start-up increase, greater than doubling its unicorns to take the nation’s official tally of unicorns to 54, and overtake the UK to 3rd place on the earth.” Rahman stated although many of the 65 unicorns based by Indians have been within the Silicon Valley, these at residence rose to 45 per cent from 33 p.c final yr, “suggesting that the start-up ecosystem in India is maturing.”
The report exhibits that 15 of the 122 world unicorns in e-commerce are positioned in India, making it the third-largest after China and the US — with 42 and 28 unicorns, respectively — within the sector.
In keeping with the Hurun report, “There are 1,058 unicorns in 221 cities of 42 international locations internationally, and the common age of the unicorns is round eight years, courting again to 2013.”
Hurun Report Chairman and Chief Researcher Rupert Hoogewerf stated, “2021 is formally essentially the most profitable yr for start-ups ever. There are immediately over 1,000 identified unicorns, virtually double the quantity from final yr, primarily on the again of surge in unicorns within the US.”
The report reveals that many of the unicorns, round 81 per cent, are within the IT enterprise, particularly promoting software program and providers. The remainder are concerned within the enterprise of promoting bodily merchandise.
At 53 per cent, simply over half of them immediately cope with shoppers. The remaining caters to companies.
The Hurun report additionally states that the entire worth of all unicorns of the world stands at $3.7 trillion, equal to the GDP of Germany.