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8 gazelles demoted to cheetahs, 9 out of Hurun Unicorn Index 2023

India's future unicorns are currently worth $57bn, with an increase of 16% as Compared to last year - mainly driven by addition of new future unicorns to the list

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Shivani Shinde

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The Hurun Research Institute on Tuesday released the ASK Private Wealth Hurun India Future Unicorn Index 2023, a ranking of India’s start-ups founded in the 2000s, worth at least $200 million, not yet listed on a public exchange, and most likely to “go unicorn” within three years (gazelles) or five years (cheetahs). The cut-off date was May 31, 2023.

With the number of start-ups reaching the unicorn level falling drastically in 2023, the Hurun Unicorn Index said it has demoted eight gazelles — start-ups that were founded in 2000 and have the potential to go to unicorn in three years — to cheetahs. It dropped 19 out of the unicorn list.

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First Published: Jun 27 2023 | 9:25 PM IST

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