India's Startup Boom: 25 Overseas HQs, 73 Unicorns, $20B IPOs in 2025
India's startup ecosystem has witnessed remarkable growth, with 25 startups now headquartered overseas, up from just six in 2021. Peak XV Partners has emerged as the most aggressive investor, backing 42 startups. Meanwhile, Bengaluru has solidified its position as the unicorn hub, with 26 valued at $70B.
Bengaluru and Delhi-NCR are expected to produce the next Indian unicorn with a $10 billion valuation, given their dominance in the high-value startup ecosystem. India added 11 new unicorns in 2025, bringing the total to 73. Fintech leads the pack with 19 unicorns worth $50.1B and 29 future unicorns. The country is now building decacorns and global disruptors, moving beyond just being a unicorn factory.
Young founders like 22-year-olds Kaivalya Vohra and Aadit Palicha of Zepto are proving that age is no barrier to building billion-dollar businesses. Women-led innovation is also on the rise, with notable examples including Ruchi Kalra (OfBusiness), Vineeta Singh (SUGAR Cosmetics), and Garima Sawhney (Pristyn Care). IIT-Delhi has produced 42 undergraduate unicorn founders. Indian unicorns now employ over 200,000 people, with Lenskart, OfBusiness, and PhysicsWallah being among the biggest employers.
With nearly $20B potentially raised through IPOs by Indian unicorns in 2025 alone, the country's startup ecosystem continues to flourish and make a significant global impact.
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