Hurun India 2024 Future Unicorn Index: Zepto, Porter, Incred Finance Turn Unicorns; Dunzo, Practo, Rapido, Paper Boat Drop Out Of Index

New Delhi:  India is currently home to 67 Unicorns, 46 Gazelles, and 106 Cheetahs, as against 68 Unicorns, 51 Gazelles, and 96 Cheetahs in the 2023 index, a report by Hurun Research Institute has said. 

Releasing the ASK Private Wealth Hurun India Future Unicorn Index 2024, the report said that 25 future Unicorns, 5 Gazelles, and  20 Cheetahs dropped out of the index list.

Hurun Research Institute has classified start-ups as Unicorns --start-ups founded after the year 2000 with a valuation of US$1bn, Gazelles --start-ups that are most likely to go Unicorn in the next three years, and Cheetahs --start-ups that could go Unicorn in the next five years. 

The evaluation is based on regulatory filings, feedback from other entrepreneurs, and some of the active India-focused VC funds and angel investors, the report said.

Zepto, Porter, and Incred Finance achieved unicorn status, while 10 Cheetahs were promoted to Gazelles. Darwinbox, formerly a Unicorn has been demoted to a Gazelle.

Notable exits of future Unicorns from Hurun India Future Unicorn Index 2024 are --CogoPort, NeoGrowth, Simple Energy, Gaana,,Koo, Jar, Bizongo, Fashinza, Progcap, Rapido, Arzooo, Avataar, Dunzo, Park+, Paper Boat, SirionLabs, WayCool, Axio, Dotpe, Jai Kisan, Melorra, Practo, Ultraviolette, mFine and RenewBuy.

In the ASK Private Wealth Hurun India Future Unicorn Index 2024, 20 women entrepreneurs from 19 companies have co-founded a total of 5 Gazelles and 14 Cheetahs, demonstrating their significant impact on the startup ecosystem.

Bengaluru continues to be the future Unicorn capital of India with 46 probable unicorns and is followed by delhi NCR (29) and Mumbai 19.