India Minted 3X More Unicorns Than China In 2022

India Minted 3X More Unicorns Than China In 2022

SUMMARY

China only produced seven unicorns in 2022, while 21 Indian startups turned unicorns during the year

However, India saw a 54% decline in the number of unicorns produced compared to a record 44 in 2021

China’s ‘Zero COVID’ policy and the consequent business disruptions contributed significantly to the decline in the unicorn pace

Even as a funding slowdown plagued the Indian startup ecosystem in 2022, the country produced 21 new unicorns during the year, four times more than that produced by the world’s second-largest startup ecosystem China.

According to Crunchbase, China only saw seven startups turning unicorns this year. Meanwhile, 21 Indian startups joined the $1 Bn valuation club to take the total number of unicorns to 108 in the country.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.