Record number of unicorns in 2021 as race for such valuation takes longer

Karnataka has emerged the biggest source of start-ups in India

Unicorns, contrary to popular perception, took slightly longer than in previous years to get to a billion-dollar valuation in 2021. The record-breaking year saw more than 40 unicorns, shows the data from start-up data provider Tracxn Technologies.

This was the highest number in the data, which goes back over a decade. The previous high was 17 in 2020. The median amount of time a start-up takes to be worth a billion dollars, called a unicorn because of how rare the event is, is counted in years though there are exceptions to the rule.

It took the median 2021 start-up 65 months from