Unicorn startups (valuation ≥ $1B)

India is the 3rd largest startup unicorn hub globally (after US and China) as of 2024. The $1B+ unicorn threshold is a widely used VC benchmark. InMobi (2011) was India's first unicorn; the cohort grew almost entirely post-2014 with digital infrastructure (UPI, Aadhaar, cheap data) enabling scale. The 2021 spike (38 → 91 in one year) reflects the global zero-interest-rate funding boom; several 2021-vintage unicorns have since seen valuation markdowns. Note that unicorn valuations are private-market marks and may not reflect public-market realisable value.