According to the Hurun Global Unicorn Index 2023, India has a significant number of unicorns and gazelles. With 68 new unicorns, India secures the third position, behind the US and China, which have 666 and 316 unicorns, respectively. However, no Indian startups reached the top ten list. India's 68 new unicorns represent a 47% increase since pre-COVID times, with 14 additional unicorns added in one year. The report indicates that BYJU'S, an online educator, is India's top unicorn, valued at $22 billion, followed by food delivery platform Swiggy and fantasy sports platform Dream11, both valued at $8 billion each.
Additionally, the Hurun report revealed that BYJU'S was one of the top 10 unicorns to experience the most significant valuation growth since pre-COVID times. The report also noted that 70 unicorns were founded by Indian co-founders outside of India, with 64 in the US, and one each in the UK, Germany, Singapore, Indonesia, and Mexico.
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