46 Indian startups may become unicorns in the next 3 years: Report

The ASK Private Wealth Hurun India Future Unicorn Index 2024, unveiled recently, illustrates a dynamic landscape within India's startup ecosystem. In a notable development, 3 startups attained unicorn status amidst a backdrop where 25 others dropped off the prestigious list. Zepto, an expedited delivery service, InCred Finance, and logistics platform Porter emerged as the latest unicorns. Conversely, Ixigo departed from the index following its successful Initial Public Offering earlier this year.

The report underscores the challenges startups face in a funding-constrained environment exacerbated by the economic slowdown and escalating interest rates. Managing director at Hurun India, Mr. Anas Rahman Junaid, highlighted a decline in unicorn promotions compared to previous years, signalling a critical phase for the startup sector. Despite these hurdles, India currently boasts 67 unicorns, 46 Gazelles, and 106 Cheetahs, collectively valued at US$ 58 billion, marking a slight uptick of 1.8% from the previous year.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.