A Complete List of Indian Cities With Their Unicorn Count

A Complete List of Indian Cities With Their Unicorn Count

Unbeknownst, the falling Indian currency 78 INR mark rate against the US dollar for the first time helped Indian marketers, that is, somehow created a smooth way to one step ahead in achieving the fifth-largest economy in India.

As we know to excel in the business challenges, startups must take necessary actions in evolving tech, a shift in consumer preferences by adopting new product strategies, and frame objectives according to economic policies.

Some Indian unicorns overcame the following challenges as they introduced indulgent, efficient, and customer-centric products. In this regard, India ranks as the third largest unicorn-producing country in the world, with 106 unicorns competing against the USA and China.

Indian Cities With Their Unicorn Count: A Total of 106 Unicorns
Bangalore
Mumbai
Gurgaon
New Delhi
Pune
Chennai
Noida
Hyderabad
Goa
Jaipur

Indian Cities With Their Unicorn Count: A Total of 106 Unicorns

According to IMF sources, India has surpassed the UK in the final three months of 2021 to become the world’s 5th largest economy, following the USA, China, Japan, and Germany in 2022.

Known for being the key pillar of the Indian economy, India's startup ecosystem is a kick start to GDP growth, whereby the country achieved the milestone of 100 unicorns in May 2022.

The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google
The above graph shows the countries with the maximum number of unicorns (2022) as per the data shown by Google

Bangalore

We immediately conjure up an image of the country's IT hub whenever we hear "Bangalore'', don’t we? Bangalore, as we all know, is a happening city in India with many tech-based companies and growing career opportunities. Bangalore is home to 43 unicorns out of 106 in India.

The city has a nurturing ecosystem that is known for its IT sector and ability to build top tech brands. By leveraging talented fellows, adopting cutting-edge technology, connecting with opulent inventors, and collaborating with multinational R&D centers.

Thereby, established top-most brands in achieving the $1 Billion mark within a short span and ultimately contributed 37% of unicorns of the nation in terms of leading sectors as Fintech 20% and SaaS 12% contribution of unicorns. Bangalore has earned the title of the top city in India for producing unicorns across industries like e-commerce, logistics, and ed-tech.

Startup Name Industry Founding Year Unicorn Entry Year
NoBroker PropTech 2014 2021
Apna Marketplace- Employment 2019 2021
BlackBuck Logistics 2015 2021
Zeta Fintech 2015 2021
VerSe Content Technology 2007 2020
Zerodha Stockbroker 2010 2020
Flipkart E-commerce 2007 2012
Ola Transportation 2010 2015
Ola Electric Automotive 2017 2019
BigBasket E-commerce- Groceries 2011 2019
BYJU’S Edtech 2011 2018
Udaan E-commerce 2016 2018
Swiggy Foodtech 2014 2018
Glance/ InMobi Mobile Technology 2019 2020
PhonePe Fintech Payments 2015 2020
RazorPay Fintech 2014 2020
Unacademy Edtech 2015 2020
Slice Fintech 2016 2021
Acko Insurtech 2016 2021
Mensa Brands Financial Services 2021 2021
CoinSwithch Cryptocurrencies 2017 2021
Licious E-commerce Meat Products 2015 2021
MPL (Mobile Premier League) ESports 2018 2021
Zetwerk Marketplace- Consumer goods 2018 2021
Groww Fintech 2017 2021
CRED Financial Technology 2018 2021
Meesho E-commerce 2015 2021
Digit Insurance Insurance 2016 2021
ShareChat Social Media 2015 2021
5ire Blockchain Network 2021 2022
DailyHunt Social News 2007 2020
LeadSquared SaaS- CRM 2011 2022
Open Fintech 2017 2022
Hasura SaaS- Programming Tools 2017 2022
LivSpace E-commerce Interior Design 2014 2022
Vedantu Edtech 2011 2021
CureFit Healthcare 2016 2021
DealShare E-commerce 2018 2022
Amagi Media, Advertising 2008 2022
CommerceIQ E-commerce Management Platform 2012 2022
Mohalla Tech (Moj) Software 2015 2021
Postman Saas- API Development and Testing 2014 2020
InMobi Adtech 2007 2011

List of 108 Unicorn Startups in India | Top Unicorns in India
India has already seen 108 unicorn startups. Here’s an exhaustive list of all Indian Unicorn Startup Companies including those that joined the unicorn club in 2022.

Mumbai

In no doubt, Mumbai has earned the deserving title of ‘the city of dreams, a place where many entrepreneurs have started their careers. As is the case, Mumbai is the richest city in the country with a homeland of 72 billionaires living and contributing $310 Billion toward the GDP of the country.

Countless startups have been launching every day in Mumbai in terms of e-commerce, Fintech, Enterprise Tech, and Travel Tech to M&E sectors thus estimating 14% unicorns in India.

Startup Name Industry Founding Year Unicorn Entry Year
Dream11 Fantasy Sports 2008 2019
BillDesk Marketplace- Employment 2019 2021
Nykaa E-commerce 2012 2020
PharmEasy Online Pharmacy 2015 2021
Rebel Foods E-commerce Food Delivery 2011 2021
Upstox Fintech 2010 2021
Eruditus Edtech 2010 2021
upGrad Edtech 2015 2021
BrowserStack Cloud Infrastructure and Software 2011 2021
CoinDCX Cryptocurrency Exchange 2018 2021
Gupshup Software 2004 2021
Purplle E-commerce Personal Care 2012 2022
Games 24x7 Gaming 2006 2022
MyGlamm Personal Care Marketplace 2015 2021
LEAD Edtech 2012 2022
Fractal Analytics SaaS- Analytics 2000 2022
Infra.Market B2B E-commerce 2016 2021
CitiusTech Healthcare Technology 2005 2019
Matic Network / Polygon Blockchain 2018 2021

Gurgaon

It accounts for more than 70% of unicorns in Delhi, as they are based in the Gurgaon region. The city has opened various portals for opportunities. Second-largest information technology hub and third-largest financial hub in India, Gurgaon is home to a slew of multinational corporations.

Since it houses top IT companies and fortune 500 companies, the city has been nicknamed 'Cyber city'. With 13% of the total unicorn percentage in India, Gurgaon stands third in unicorn production.

Startup Name Industry Founding Year Unicorn Entry Year
Oxyzo Fintech 2016 2022
Mamaearth E-commerce Personal Care 2016 2021
Spinny Automotive 2015 2021
Mobikwik Fintech 2009 2021
OfBusiness Building Materials 2015 2021
Droom Marketplace- Automotives 2014 2021
BlinKit E-commerce- Groceries 2013 2021
Urban Company Home Services 2014 2021
CARS24 B2C E-commerce 2015 2020
OYO Hospitality 2013 2018
Rivigo Logistics 2014 2019
PolicyBazaar Insurance company 2008 2018
Zomato Foodtech 2008 2015
Tata 1mg HealthTech 2015 2022
MakeMyTrip Online Travel 2000 2010
ReNew Power Renewable Energy 2011 2017
Pristyn Care Healthtech 2018 2021

New Delhi

New Delhi is not only the capital of India but lately, reformed into a new startup capital of India. Moreover, India will become the 3rd biggest economy in the world in 2022, and Delhi has become a hotspot for several startups and unicorns around India as well.

Gurgaon and Noida are the most prominent hotspots. Delhi is now home to 10 unicorns, with an estimation of roughly 1 billion dollars. And as of 2022, Delhi-NCR has a market worth 46 to 56 million dollars. Moreover, Delhi is reported to have the most Indian unicorns in a short span, and its startup ecosystem is growing exponentially.

Approximately 12,000 startups, 30 unicorns, and a cumulative valuation of about $150 billion could be based in Delhi-NCR by 2025, making it one of the top 5 global startup hubs. Delhi NCR contributes roughly 6.6% to the Indian unicorns.

Startup Name Industry Founding Year Unicorn Entry Year
BharatPe Fintech Payments 2018 2021
Delhivery E-commerce Logistics Services 2011 2019
Lenskart E-commerce- Eyewear 2010 2019
ShipRocket eCommerce shipping 2017 2022
GlobalBees E-commerce Retail 2021 2021

Pune

One fine feature in unicorns at Pune is women leading the start-up culture.  Pune has 3200 Startups, on the other hand, Mumbai has 3274 Startups, which may compete against each other in the future in a healthy way.

Moreover, the Sci-Tech Park (established by the Ministry of Science and Technology, Government of India, and the University of Pune in 1986) alone has 153 startups.

As a result of Pune's exceptional position to support start-ups and its proximity to industry, IT, and the best academic institutions, international collaboration among start-ups has increased over the past few years. Pune’s contribution to unicorns is approximately 5.7% as of a recent survey.

Startup Name Industry Founding Year Unicorn Entry Year
ElasticRun E-commerce Logistics 2015 2022
XpressBees Logistics E-commerce Logistics 2015 2022
FirstCry E-commerce 2010 2020
Icertis Saas- Contract Management 2009 2019
Druva Software Saas- Data Management 2008 2019
OneCard Fintech 2018 2022
MindTickle Saas- Enterprise Software 2011 2021

Chennai

Since Chennai city has failed to invest enough in startups in the last ten years, speed has finally picked up now, with a new administration in place. In a recent study, Tamil Nadu has a well-rounded business ecosystem spanning sectors, particularly in the industrialization sector.

However, compared to Bangalore, Mumbai, and Delhi, it still struggles to fit in. Moreover, several experts are believed to turn Chennai from Tamil Nadu into i-Tamil Nadu Technology, a hub for technology and a better startup ecosystem. Chennai as well pitches in 6.7% of the Indian unicorn sectors to the economy.

Startup Name Industry Founding Year Unicorn Entry Year
Five Star Business Finance Financial Services 1984 2021
Uniphore Software Systems SaaS- Conversational Automation 2008 2022
CredAvenue/ Yubi Fintech 2017 2022
ChargeBee Financial Services 2011 2021
Freshworks SaaS - CRM 2010 2018
The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report
The above graph shows the aggregate value of Indian Unicorns in Billion US Dollars as per the source Iron Pillar India Tech Trends Volume IV Report

Noida

In addition to Delhi, Noida has also bagged the title of a prosperous startup hub. The city is now a gateway for various global corporations. The city might be from Uttar Pradesh but emerged just like Delhi NCR when it comes to an industrial and manufacturing hub.

Noida has wide roads, and expressways in addition to greeneries, and for this reason, Noida is at present an up-and-coming city with an impressive startup ecosystem.

Moreover, it is near the Industrial Development Authority, Delhi, which makes good connectivity to the capital city, access to profitable talent, and cost-effective operations. Meanwhile, Noida extends 3.8% of the Indian unicorn sector’s income to the economy.

Startup Name Industry Founding Year Unicorn Entry Year
Moglix B2B E-commerce 2015 2021
PhysicsWallah Edtech 2016 2022
Pine Labs Fintech 1998 2020
Paytm E-commerce Finance 2010 2015
Paytm Mall E-commerce 2017 2018

Hyderabad

When there is a discussion about startup cities, Hyderabad also needs to be mentioned. Even though not many of the startups have turned into unicorns here, the number of budding startups here is quite high.

In the span of 3 years, from 2019 to 2021, approximately 933 startups were created here. It is not wrong to estimate that some of the smartest startups have been based in Hyderabad. And when it comes to unicorn startups, Hyderabad is home to 3 unicorns in India.  

Startup Name Industry Founding Year Unicorn Entry Year
Darwinbox SaaS- HR 2015 2022
Highradius Fintech 2006 2020
Zenoti Saas- Spa and Salon Services 2010 2020
The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report
The above graph shows the percentage of Indian Unicorns based on the different geography as per Iron Pillar India Tech Trends Volume IV Report

Goa

Goa is highly acknowledged for its natural component. However, the government there is keen on making it a startup destination across India. Undoubtedly, Goa is home to many small and large startup businesses. Apart from that, Goa is also home to health based unicorn startup named Molbio Diagnostic.

Startup Name Industry Founding Year Unicorn Entry Year
Molbio Diagnostic HealthTech 2010 2022

Jaipur

The Pink city of India also provides a suitable culture for numerous startups to grow in it. The Ecosystem of Jaipur Startups is ranked at 7th position in India and 212th position globally. Jaipur is now home to one Indian Unicorn company and has many more coming in the future.

Startup Name Industry Founding Year Unicorn Entry Year
CarDekho E-commerce Automotives 2007 2021

Conclusion

On the whole, India has over 106 unicorns, all segregated in cities like Delhi, Bangalore, Chennai, Gurgaon, Noida, Hyderabad, Jaipur, Goa, and Mumbai. So far, India has globally earned recognition for its unicorns, and this may be one of the reasons why India is ranked third in the world economy.

FAQs

Which Indian state has the most unicorns?

Karnataka is home to the maximum number of unicorns.

Which city has the most unicorns?

Bengaluru has the most number of unicorns.

Which country has the most unicorns?

The United States has the highest number of unicorns in the world with a tally of 865 unicorns followed by China with an account of 224 unicorns.

Which is India's 100th unicorn?

The 100th unicorn of India is a neo-banking platform named "Open".

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