India has produced 33 unicorns so far in 2021, compared with China’s 19
India has produced 33 unicorns this year, which is its most till date and far exceeds the number of unicorns that came out of China during the same period.
Based on Tracxn data, India first beat China in the annual unicorn count in 2020 — 17 against China’s 16. The difference widened this year — 33 against 19 from China.
Unicorn timeline
However, China has the second-highest number of unicorns in the world at 177, which is more than twice India’s 72, data from Tracxn showed. In just five years, 2015-19, China produced 136 unicorns, which is more than 75 per cent of its total. In contrast, India’s unicorn numbers are surging only of late. During the decade from 2011-19, India produced only 22 unicorns.
Over 40% of Indian unicorns have been created in 2021
Sectors that shone
The sectors that saw a higher number of unicorns this year, on the other hand, are quite similar in both countries. Nine of India’s unicorns this year are from fintech and financial services, followed by seven in enterprise applications and enterprise infrastructure, and six in the consumer segment. Likewise, four of China’s unicorns this year are from enterprise applications and infrastructure, followed by fintech, food and agriculture tech, and consumer segments with three unicorns each.
Read More at https://www.thehindubusinessline.com/data-stories/data-focus/india-speeds-past-china-in-the-unicorn-race/article37087689.ece
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