New additions in the unicorn list declined sharply in 2023, indicating a slowdown in the Indian startup ecosystem, a report said on Tuesday. India added only three unicorns - privately held companies with a valuation of over $1 billion - in 2023 against 24 in the year-ago period, according to the ASK Private Wealth Hurun Indian Future Unicorn Index 2023. The slowdown in unicorn additions is indicative of a "slowdown in India's startup ecosystem", the report - which comes amid a slowdown in investor interest in what is being termed as "funding winter" - said. The overall number of unicorns also declined to 83 from 84 in the year-ago period. Quick commerce startup, Zepto's twenty-year-old co-founder Kaivalya Vohra is the youngest cofounder in the index. The 147 companies featured in the index employ over 1.02 lakh people. India presently has 83 unicorns, 51 gazelles, and 96 cheetahs, compared to 84 unicorns, 51 gazelles, and 71 cheetahs in the 2022 index, as per the report. The number of gazelles remains constant in both years' reports.
The report mentions electric scooter maker Ather Energy, quick commerce firm Zepto, and edtech company Leap Scholar which stand among the ventures that have the potential to become unicorns. Online furniture seller platform, Pepperfry, is assessed to be the most valuable cheetah. 

Will India add 5 or more Unicorns in 2024?

Qty at Yes

Qty at No

Share your opinion on 'Will India add 5 or more Unicorns in 2024?' and let us see who is the real expert. https://probo.in?type=event&id=1954352