India's startup ecosystem continues to thrive, with 11 new startups joining the coveted unicorn club in 2025, according to a recent Hurun report. This highlights the country's growing innovation and entrepreneurial spirit. A unicorn is defined as a privately held startup company with a valuation of over $1 billion.
Bengaluru has solidified its position as the startup capital of India, housing the highest number of unicorns. The city's robust ecosystem, access to talent, and favorable investment climate contribute to its continued dominance in the Indian startup landscape. In the first half of 2025, Bengaluru attracted $3.9 billion in startup funding across 143 deals, accounting for 40% of the total capital raised in India.
The ASK Private Wealth Hurun India Unicorn Report 2025 sheds light on the most-funded future unicorns, highlighting startups that are on track to achieve a $1 billion valuation. These companies are solving significant problems at scale and attracting substantial capital.
The report also identifies "Gazelles" (likely to become unicorns in 3 years) and "Cheetahs" (likely to become unicorns in 5 years), indicating a strong pipeline of potential unicorns in the coming years.
The 11 new entrants to the unicorn club in 2025 include Ai.tech, Navi Technologies, Vivriti Capital, Veritas Finance, Rapido, Netradyne, Jumbotail, DarwinBox, Moneyview, Juspay and Drools. Among these, Ai.tech stands out as the fastest to reach unicorn status. Jumbotail, a B2B marketplace connecting retailers with brands and staples producers, joined the Unicorn Club on June 30, 2025, after raising $120 million in Series D funding. Netradyne, a deeptech startup based in Bengaluru, became the first unicorn of 2025 after raising $90 million in a Series D funding round.
Bengaluru has consistently been ranked as the top city in India for startups. As of September 2025, Bengaluru is home to 53 unicorns. The city's ecosystem is supported by a deep pool of talent, with over 6 lakh AI and machine learning professionals. The city is home to top-tier institutions like the Indian Institute of Science (IISc) and the Indian Institute of Technology (IIT), which produce thousands of skilled professionals every year. In 2024, Bengaluru produced six new unicorns, including Krutrim, Perfios, and Ather Energy, further solidifying its dominance.
India ranks third globally in terms of the number of unicorns, with 64 billion-dollar startups. The United States leads with 758 unicorns, followed by China with 343. The Indian startup ecosystem is driven by sectors such as fintech, gaming, and edtech. The country's most valuable unicorns include Zerodha, Dream11, and Razorpay.
The Hurun India Unicorn Report 2025 highlights several future unicorns with significant funding: * Fourth Partner Energy: A Hyderabad-based renewable energy company with $564 million raised. * GreyOrange: A Gurugram-based robotics and warehouse automation firm with $545 million raised. * Drip Capital: A Mumbai-based fintech company focused on trade finance, having raised $528 million.
These companies are transforming sectors like renewable energy, automation, and fintech, demonstrating the diversity of India's entrepreneurial talent.
Despite the growth in the startup ecosystem, challenges remain. Infrastructure strains, such as traffic congestion and water scarcity, continue to be pressing issues in Bengaluru. However, the city's strengths in talent, AI adoption, and ecosystem depth position it as a global tech powerhouse. Government support and initiatives like "Bridge to Bengaluru" further contribute to the globalization of the city's startup environment.
