India minted 4X more unicorns than China in 2022
Image Credit: orfonline
Even as a funding slowdown plagued the Indian startup ecosystem in 2022, the country produced 21 new unicorns during the year, four times more than that produced by the world’s second-largest startup ecosystem China. According to listed market intelligence firm Tracxn’s data, China only saw five startups turning unicorns this year. Meanwhile, 21 Indian startups joined the $1 Bn valuation club to take the total number of unicorns to 108 in the country.