Unicorns in India: List of startup companies with unicorn status in 2025
Explore the trailblazers of innovation: India's unicorn startups, their sectors, and valuations
By Forbes India
Last Updated: May 27, 2025, 09:52 IST3 min
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In the dynamic world of startups, a rare breed emerges now and then—unicorn startups. These extraordinary ventures have captivated the business world, capturing our imaginations with exceptional achievements. India, with its vibrant entrepreneurial spirit and booming startup ecosystem, has witnessed the rise of numerous unicorn startups that are revolutionising industries, reshaping markets, and making their mark on the global platform.
As of May 2025, the Indian Startup Ecosystem, ranking third globally in terms of unicorn count. In today"s fast-paced and dynamic economy, Indian Unicorns are thriving. These startups are not only creating groundbreaking solutions and technologies but also fueling significant job growth.
This article will take you on a journey through the realm of unicorns in India, showcasing the innovative powerhouses that have achieved remarkable valuations and captured the attention of investors worldwide. We will explore the sectors they operate in, the groundbreaking solutions they offer, and the impact they have on the Indian economy and society.
What is a unicorn startup?
A unicorn startup is a term used to describe a privately held startup company with a valuation of over $1 billion. The term was coined by Aileen Lee, a venture capitalist, choosing the mythical animal to represent the statistical rarity of such successful ventures.
Unicorn startups are often innovative and disruptive companies that operate in various sectors, such as technology, e-commerce, finance, healthcare, and more. They typically experience rapid growth and attract significant investment from venture capitalists and other investors. These companies often leverage advanced technologies, business models, or market strategies to gain a competitive edge and capture a large market share.
The concept of unicorn startups has gained prominence in the startup ecosystem as a measure of success and potential. Unicorns in India are seen as game-changers in their respective industries and have the potential to reshape markets or create new ones. Examples of well-known unicorn startups include Zepto, Swiggy, Ather Energy, Groww, Razorpay, and Nykaa.
List of Startup Companies with Unicorn Status in India (Latest)
| No | Company | Sector | Entry Valuation ($B) | Entry |
|---|---|---|---|---|
| 113 | Drools (New) | Packaged Foods (Pets) | 1 | May-2025 |
| 112 | JSW One MSME (New) | B2B e-commerce | 1 | May-2025 |
| 111 | Juspay (New) | Fintech infrastructure | 1.24 | Apr-2025 |
| 110 | Money View | Fintech | 1.2 | September-2024 |
| 109 | Rapido | Transportation | 1 | August-2024 |
| 108 | Ather Energy | Automotive Electric vehicles | 1.3 | August-2024 |
| 107 | Porter | Logistics | 1 | May-2024 |
| 106 | Perfios | Fintech | 1 | Mar-2024 |
| 105 | Krutrim | Enterprise applications | 1 | Jan-2024 |
| 104 | InCred Finance | NBFC | 1.04 | Nov-2023 |
| 103 | Zepto | Quick commerce | 1.4 | Aug-2023 |
| 102 | Molbio Diagnostics | Healthtech | 1.53 | Sep-2022 |
| 101 | Shiprocket | Aggregator | 1.23 | Aug-2022 |
| 100 | OneCard | Fintech | 1.3 | Jul-2022 |
| 99 | Leadsquared | SaaS | 1 | Jun-2022 |
| 98 | Purplle | E-Commerce | 1.1 | Jun-2022 |
| 97 | PhysicsWallah | Edtech | 1.1 | Jun-2022 |
| 96 | Open Financial Technologies | Fintech | 1 | May-2022 |
| 95 | Games24x7 | Gaming | 2.5 | Mar-2022 |
| 94 | Oxyzo Financial Services | Fintech | 1 | Mar-2022 |
| 93 | Amagi Media Labs | SaaS | 1 | Mar-2022 |
| 92 | CredAvenue | Marketplace | 1.3 | Mar-2022 |
| 91 | Hasura | SaaS | 1 | Feb-2022 |
| 90 | Uniphore Software Systems | SaaS | 2.5 | Feb-2022 |
| 89 | XpressBees Logistics | Logistics Services | 1.2 | Feb-2022 |
| 88 | LivSpace | Interior Design | 1.2 | Feb-2022 |
| 87 | ElasticRun | Logistics Services | 1.4 | Feb-2022 |
| 86 | Polygon | Web3 Infrastructure | 10 | Feb-2022 |
| 85 | DealShare | E-Commerce | 1.62 | Jan-2022 |
| 84 | DarwinBox | SaaS | 1 | Jan-2022 |
| 83 | LEAD School | Edtech | 1.1 | Jan-2022 |
| 82 | Fractal | SaaS | 1 | Jan-2022 |
| 81 | GlobalBees | Aggregator | 1.1 | Dec-2021 |
| 80 | Mamaearth | D2C | 1.07 | Dec-2021 |
| 79 | Pristyn Care | Healthtech | 1.4 | Dec-2021 |
| 78 | Slice | Fintech | 1 | Nov-2021 |
| 77 | Upstox | Fintech | 3.4 | Nov-2021 |
| 76 | Spinny | Marketplace | 1.5 | Nov-2021 |
| 75 | NoBroker | Proptech | 1 | Nov-2021 |
| 74 | Mensa Brands | Aggregator | 1.2 | Nov-2021 |
| 73 | CureFit | Healthtech | 1.5 | Nov-2021 |
| 72 | The Good Glamm Group | D2C | 1.2 | Nov-2021 |
| 71 | Acko | Fintech | 1.1 | Oct-2021 |
| 70 | Cardekho | Marketplace | 1.2 | Oct-2021 |
| 69 | Rebel Foods | Foodtech | 1.4 | Oct-2021 |
| 68 | CoinSwitch | Cryptocurrency Exchange | 1.9 | Oct-2021 |
| 67 | Licious | D2C | 1 | Oct-2021 |
| 66 | Vedantu | Edtech | 1 | Sep-2021 |
| 65 | Apna.co | Marketplace | 1.1 | Sep-2021 |
| 64 | Mobile Premier League | Gaming | 2.3 | Sep-2021 |
| 63 | Zetwerk | Marketplace | 1 | Aug-2021 |
| 62 | Blinkit | E-Commerce | 1 | Aug-2021 |
| 61 | Eruditus | Edtech | 3.2 | Aug-2021 |
| 60 | CoinDCX | Cryptocurrency Exchange | 1.1 | Aug-2021 |
| 59 | upGrad | Edtech | 1.2 | Aug-2021 |
| 58 | MindTickle | SaaS | 1.2 | Aug-2021 |
| 57 | BharatPe | Fintech | 2.8 | Aug-2021 |
| 56 | OfBusiness | NBFC | 1.5 | Jul-2021 |
| 55 | Droom | Marketplace | 1.2 | Jul-2021 |
| 54 | BlackBuck | Logistics Services | 1 | Jul-2021 |
| 53 | BrowserStack | SaaS | 4 | Jun-2021 |
| 52 | Zeta | Fintech | 1.4 | May-2021 |
| 51 | Moglix | B2B E | 1 | May-2021 |
| 50 | Urban Company | Marketplace | 2.1 | Apr-2021 |
Source: Venture Intelligence
Unicorns in India exemplifies its startup ecosystem"s entrepreneurial drive and potential. These innovative companies are revolutionising industries, addressing societal challenges, fueling economic growth, and generating employment opportunities.
Despite regulatory obstacles and fierce competition, both the Indian government and the business sector are actively supporting startups. The influence of unicorns in India has had a massive impact on its economy, and society is set to persist, with more pioneering enterprises aspiring to attain this esteemed status in the times ahead.
Frequently Asked Questions( FAQs)
1. What are the important factors that contribute to a startup becoming a unicorn?
Unicorns in India are typically characterised by disruptive innovation, scalability, market demand, strong leadership, successful funding rounds, and rapid growth milestones. They often leverage advanced technologies, capture a significant market share, and demonstrate the potential for long-term sustainability and profitability.
2. How do unicorns in India impact the economy and industries they operate in?
Unicorns in India play an outsized role in driving economic growth and innovation, not just because of their scale but the hype and buzz they generate. They create job opportunities, attract investments, disrupt traditional industries, introduce new technologies and business models, and contribute to the overall transformation of markets. Their success often inspires entrepreneurship and fosters a culture of innovation within the startup ecosystem.
3. Are all unicorn startups profitable?
While unicorns in India have achieved high valuations, not all are immediately profitable. Many unicorn companies prioritise rapid growth and market dominance over short-term profitability. They often reinvest their revenues into scaling operations, expanding market reach, and developing new products or services. Profitability goals may vary across different stages of a startup"s growth trajectory.
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- Gradiant is a unique unicorn: Prakash Govindan
- 15 years and 3 unicorns: Will Bhavish Aggarwal"s disruptive run continue?
First Published: May 27, 2025, 09:52
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