India added 11 new unicorns in 2025, taking the total count to 73, according to the ASK Private Wealth Hurun India Unicorn and Future Unicorn Report. The latest entrants include Ai.tech, Navi Technologies, Rapido, Netradyne, Jumbotail, and Darwinbox.
Funding activity remained strong, with Peak XV Partners emerging as the most active backer, placing 42 bets across startups this year.
The unicorn leaderboard
Zerodha leads the pack with a valuation of $8.2 billion, followed by Razorpay and Lenskart at $7.5 billion each, and Groww at $7 billion. Collectively, India’s unicorns employ more than 206,000 people. Lenskart, OfBusiness, and PhysicsWallah are among the largest employers in the sector.
Diversity and youth in focus
The report highlights a growing presence of women founders, including Ruchi Kalra (OfBusiness), Vineeta Singh (SUGAR Cosmetics), and Garima Sawhney (Pristyn Care). Among the youngest unicorn founders are 22-year-olds Kaivalya Vohra and Aadit Palicha of Zepto.
Bengaluru stays on top
Bengaluru remains India’s leading unicorn hub, home to 26 companies valued at $70 billion. Delhi-NCR and Mumbai follow, underscoring the concentration of startup activity in these metro regions.
Fintech continues to dominate India’s unicorn landscape, both in sheer numbers and overall valuation, cementing its place as the most powerful sector in the ecosystem.
