India has a total of 54 unicorns, ranking it third in the world, according to Hurun Global Unicorn Index 2021.

The report said India has more than doubled the number of unicorns from last year and overtook the UK in the tally. “Whilst there are a further 65 unicorns founded by Indians abroad, mainly in Silicon Valley, the percentage of homegrown unicorns has increased from one third to 45 per cent suggesting that the start-up ecosystem in India is maturing,” said Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun India.

According to Hurun India, India’s list of unicorns is led by edtech platform BYJU’s which is valued at $21 billion, followed by mobile ad-tech platform InMobi valued at $12 billion and hospitality major OYO Rooms with a valuation of $9.5 billion.

The report said there are 122 unicorns in e-commerce globally, of which 15 are in India. In the e-commerce sector, India is the third-largest, only behind the US and China. Further, 39 unicorns in the world have seen their valuation dip below $1billion this year. Among Indian start-ups, Paytm Mall was valued at $3 billion in 2020, the e-commerce company saw its valuation drop below $1 billion this year.