What Are Unicorns?
The number of unicorns in India reached the 100-mark.
- The total valuation of these unicorns is USD 330 billion, that is over Rs 25 lakh crore.
- The average annual growth rate of Indian unicorns is more than that of the U.S., the U.K. and many other countries.
- India has become the third-largest startup ecosystem in the world after the US and China.
- A unicorn is any privately owned firm with a market capitalization of more than USD 1 billion.
- One unicorn means a startup of at least Rs 7,500 crore turnover.
- There are several categories like fintech, Edtechs, B2B (Business-to-Business) companies, etc.