Get All Access for $5/mo

India Creates Second Highest Number Of Unicorns: Report The US tops the list by adding 138 unicorns

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


India surpassed China in adding the most number of unicorn startups, in the first half of 2022. As per the Hurun Global Unicorn Index 2022, India added 14 new unicorns while China added only 11. The US tops the list by adding 138 unicorns.

Rupert Hoogewerf, Hurun report chairman and chief researcher, said in a statement that, "369 new unicorns have found in the first six months of this year. Almost a third of these are doing fintech, SaaS and blockchain. 80 per cent are providing services, with only 20 per cent have physical products. 65 per cent are selling to businesses and 35 per cent are to consumers,"

Altogether, the US tops the list with 625 unicorns, followed by China with 312. India positioned third in the list with 68 unicorns.

"India consolidated its top three spot with 68 unicorns, led by online educator BYJU'S worth $22 billion, followed by on-demand delivery startup Swiggy worth $11 billion and fantasy sports platform travel-stay finder Dream11 worth $8 billion. A further 56 unicorns were started by Indian co-founders outside India, taking the total to 124 unicorns founded by Indians around the world," the report stated.

The report added that Bengaluru accounts for 2.5 per cent of the world's unicorns. Also New York and San Francisco have the highest number of unicorns that fixed the 'world unicorn capital' title for San Francisco with 176 unicorns, up 25. New York over took Beijing to gain the second position with 120 unicorns, up 35.

According to the list, TikTok owner Douyin is the world's most valuable unicorn of the second year running, followed by the Elon Musk's SpaceX. On the other hand, the report also says that 147 unicorns saw their valuations drop between January and June 2022.

As per the Future Unicorn Index list, released in June, by Hurun Research Institute, Indian will have 122 new unicorns in the next two to four years.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Starting a Business

I Left the Corporate World to Start a Chicken Coop Business — Here Are 3 Valuable Lessons I Learned Along the Way

Board meetings were traded for barnyards as a thriving new venture hatched.

Business News

Apple Reportedly Isn't Paying OpenAI to Use ChatGPT in iPhones

The next big iPhone update brings ChatGPT directly to Apple devices.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.


ChatGPT is Becoming More Human-Like. Here's How The Tool is Getting Smarter at Replicating Your Voice, Brand and Personality.

AI can be instrumental in building your brand and boosting awareness, but the right approach is critical. A custom GPT delivers tailored collateral based on your ethos, personality and unique positioning factors.

Growth Strategies

AMD Confident About Increasing Market Share In India

The semiconductor company is positive about the business environment in India on the back of growing investments in data centers and AI, Cloud repatriation, as well as technology refresh taking place across companies on both server side and client devices


Are Your Business's Local Listings Accurate and Up-to-Date? Here Are the Consequences You Could Face If Not.

Why accurate local listings are crucial for business success — and how to avoid the pitfalls of outdated information.