Unicorn Startups in India
In 2019, Indian startups took over 10 years on average to reach a unicorn status, valued at $1 billion. By 2023, this average time decreased to five years, aided by significant investments from private equity and venture capital (PE/VC) firms which focused more on scaling than profitability, according to Tracxn data.
Trends in 2024
By 2024, the timeline extended again, with startups averaging nine years and six months to achieve unicorn status due to reduced funding from PE/VC firms, reverting to 2019 levels.
Comparison with the US
- According to a study by the Stanford Graduate School of Business, post-2014 US startups achieved unicorn status in 3.4 years compared to 6.6 years prior.
Startups with Rapid Growth
Some startups, however, achieved unicorn status quickly:
- Ola Krutrim and Ola Electric became unicorns in one and two years respectively, largely due to SoftBank funding.
- Startups like Yubi, Physics Wallah, Mensa Brands, GlobalBees, and Glance also reached unicorn status in one to two years.
