According to the ASK Private Wealth Hurun India Future Unicorn Index 2024, venture capital firm Peak XV Partners has cemented its status as the leading investor in India’s startup ecosystem. The company invested in 47 possible unicorns, including Classplus, Turtlemint, and CleverTap.
Accel is ranked second, and Tiger Global, which hasn’t made many investments recently, is ranked third. Blume Ventures and Trifecta were also included in the top 5.
Hurun Research Institute’s index rates Indian startups that were established in the 2000s and have valuations of at least $200 million but have not yet been listed on stock exchanges.
Hurun has divided these startups into two groups: Gazelles, which are expected to become unicorns in three years, and Cheetahs, which are expected to do so in five. As per Hurun, the index’s goal is to draw attention to the swift growth of India’s startup ecosystem for a worldwide audience comprising investors, government agencies, family offices, prospective entrepreneurs, and the global community.
Hurun Research discovered 152 unicorns in the future from 31 Indian cities. On average, they were founded in 2015, and only 18% of them sold tangible goods. The great majority, however, sold software and services. It added that 44% of sales are to businesses and 56% are to consumers.
