ASK Private Wealth and Hurun India have released their fifth ‘Unicorn and Future Unicorn Report 2025’ that ranks Indian startups founded in the 2000s, which are worth at least ₹1,710 crore, and not yet listed on a public exchange.The report categorises startups valued at $1 billion and more as unicorns, while those between $500 million-$1 billion are termed as ‘gazelles’, and companies valued between $200-500 million are ‘cheetahs’. Notably, cheetahs are those with potential to go unicorn in five years, while gazelles could take three years to reach the billion dollar valuation, it added.Also Read | iPhone 17: Blinkit to deliver Apple device from this date. Check details hereA snapshot of India’s start-up ecosystem: 73 unicorns, 150 potentialsThe report has ranked India’s most valuable private equity or venture capital-funded startups according to their latest funding round valuation. Hurun Research found 150 Indian future unicorns and 73 unicorns, it said.According to Rajesh Saluja, Co-Founder, CEO & MD of ASK Private Wealth, said, India’s start-up ecosystem journey “into a powerful engine of innovation and economic value creation” has been inspiring. Adding that the growing focus on profitability, sustainable models, and capital efficiency are particularly encouraging aspects.“The increasing depth across fintech, artificial intelligence (AI), Software as a service (SaaS), and consumer sectors not only underscores the ingenuity of Indian entrepreneurs but also positions India at the forefront of shaping the next wave of global disruptors,” Saluja added.Anas Rahman Junaid, Founder and Chief Researcher at Hurun India said that tracking unicorns is important as “they represent India’s most valuable and disruptive companies that are already shaping industries, creating large-scale employment, and attracting global capital”.“(Unicorns) together with future unicorns, provide a complete picture of India’s innovation pipeline and the long-term potential of the country’s entrepreneurial ecosystem,” Junaid added.Also Read | New GST rates: Amul MD clarifies changes in price of pouch and UHT milk —detailsIndia’s unicorns and future unicorns — Top 10 highlightsOver the past year, almost 11 new unicorns have entered the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report 2025. Among these, Ai.tech emerged as the fastest unicorn, achieving the milestone in just three years.Other prominent additions include Navi Technologies, Vivriti Capital, Rapido, Netradyne, Jumbotail, DarwinBox, Moneyview, Veritas Finance, Juspay and Drools. With these new entrants, India’s unicorn tally now stands at 73 in 2025, spanning diverse sectors from technology and mobility to finance and sustainability.”Real money gaming startups such as Dream11, MPL, Gameskraft, Games24x7, Zupee, and WinZO have exited the list as of now, following the impact of the Promotion and Regulation of Online Gaming Bill, 2025.The number of in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. 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The ‘Unicorn Report 2025,’ published by Ask Private Wealth and Hurun India, reveals the top 20 unicorns, featuring companies such as Zerodha and Zepto. Discover who else made it onto the list.
