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How long do Indian startups take to become a unicorn?

How long does it take Indian startups to become a unicorn?

September 5, 2024September 16, 2024

Indian startups typically take a median of 7 years from incorporation to achieve unicorn status (companies with a valuation of $1 billion or more).

However, each business is different and so are their growth trajectories. For instance, Ananth Narayanan-led Mensa Brands became a unicorn in just 6 months, while Five Star Business Finance took over three decades to reach the same milestone.

The overall median time to hit unicorn status has dramatically decreased in recent years. For Indian startups founded after 2020, the median time is just 1 year, compared to 26 years for companies established before 2000.

This acceleration is largely driven by companies like Mensa Brands, Globalbees, and Krutrim, which achieved unicorn status in under a year.

In contrast, companies founded before 2000, such as MapMyIndia, InCred, and IndiaMart, have taken nearly two decades to reach a unicorn valuation, resulting in a median time of 26 years for that period.

Time taken to become a unicorn by sector

The time it takes for Indian startups to become unicorns varies significantly by sector.

Deeptech, Traveltech, and SaaS startups take the longest, with median times of 10.9 years, 11.5 years, and 10 years, respectively. On the other hand, Web3 startups have the shortest median time, reaching unicorn status in just 3 years.

Sectors like Ecommerce, Edtech, Fintech, and Healthtech typically have a median time to unicorn status ranging from 6 to 6.5 years. In contrast, Cleantech, Foodtech, and Media & Entertainment startups take slightly longer, with median times of 7, 8, and 8.5 years, respectively.

In certain sectors, only one company has reached unicorn status, with timelines varying from 2 to 7 years. This includes HRTech (Apna), Hospitality (OYO), Interior Design (Livspace), Proptech (NoBroker), and Services Marketplace (Urban Company).

This identification was done based on our own research and media announcements.


Stay tuned for more in-depth analysis and insights on the latest trends in the startup world.

India's Comprehensive Private Markets Intelligence Platform, PrivateCircle Research.
India’s Comprehensive Private Markets Intelligence Platform, PrivateCircle Research.

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