With the number of start-ups reaching the unicorn level falling drastically in 2023, the Hurun Unicorn Index said it has demoted eight gazelles - start-ups that were founded in 2000 and have the potential to go to unicorn in three years - to cheetahs.
Luxury brand market is witnessing one of the fastest growth.
India has 50 startups with the potential to achieve the coveted 'unicorn' status in 2022 and by the end of the year, the list of the new-age companies valued at over $1 billion will be at least 100, a report by a consultancy firm said on Monday. In 2021, which witnessed a huge spike in company valuations in the listed and unlisted space driven by ample liquidity, according to some watchers, India added 43 startups to the list and the number of unicorns shot up to 68 by the end of the year. Over $10 billion was invested in the Indian startup ecosystem in the October-December quarter alone, according to the report by PwC India.
The list has been compiled by the Shanghai-based The Hurun Research Institute, the second year it has done this ranking, of an 'India philanthropy list'.
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