India edges out China in creating new unicorns in H1CY22: Hurun report

As many as 147 unicorns worldwide saw their valuations drop in the last six months

India overtook China to add the most number of new unicorns--start-ups valued at $1 billion or more--in the first half of 2022 despite a funding winter haunting entrepreneurs in the south Asian nation.

India added 14 new unicorns in the period (H1 2022) and China had 11, according to the Hurun Global Unicorn Index 2022. The US led the ranking by adding 138 start-ups in the unicorn club. This is not the first time that India has managed to add more unicorns in a specific period. Accroding to a PwC report in Q3CY21, India added 10 new unicorns, and China and