India has emerged as a significant player in the global startup ecosystem, boasting 72 unicorn companies with a total valuation of $196 billion, according to a report by Forex.com based on data sourced from CB Insights.
Despite having a lower average valuation per unicorn compared to some counterparts, India’s unicorns collectively contribute a substantial 5% to the global unicorn valuation, underscoring the country’s growing influence in the international startup landscape.
The United States leads the global unicorn tally with an impressive 668 companies, followed by China with 172. However, India’s position as the third-ranked country underscores its prominence in the startup arena, placing it on par with the United Kingdom in terms of significance.
In the United States, unicorn companies command a combined valuation of over $2 trillion, representing more than half (54%) of the total unicorn valuation globally.
According to the research, the enterprise tech industry leads the pack globally, boasting 377 unicorn companies with a total valuation exceeding $1 trillion. Canva, with a valuation of $40 billion, emerges as the highest-valued enterprise tech company globally, ranking fifth among all unicorn companies worldwide. The enterprise tech sector is projected to maintain its dominance, surpassing growth and valuation projections by 2027.
In the financial services sector, 216 companies collectively hold a valuation of $706 billion. Stripe leads the pack with a valuation of $50 billion, ranking fourth overall among unicorn companies. Despite housing the same number of unicorn companies, the financial services sector boasts a 10% higher total valuation compared to the consumer and retail industry, which ranks third with 216 companies and a combined valuation exceeding $631 billion.
Among consumer and retail companies, Shein stands out with a valuation of $66 billion, ranking third globally. Its valuation surpasses the combined valuation of all 27 unicorn companies in the insurance industry, which totals $57.83 billion, highlighting the robust growth and valuation potential of consumer-focused startups.
