India has solidified its position as the world’s third-largest startup ecosystem, boasting 73 unicorn companies valued at $1 billion or more, according to the Hurun India Unicorn Report 2025. From fintech to quick-commerce, these startups are driving innovation and economic growth, with Bengaluru, Delhi-NCR, and Mumbai emerging as key hubs. Here’s a closer look at India’s vibrant startup landscape and its leading players.
A Thriving Ecosystem of UnicornsIndia’s startup scene continues to flourish, with 73 unicorns collectively shaping industries and creating thousands of jobs.
Top-Valued Unicorns Lead the Charge
Zerodha: Valued at $8.2 billion, this Bengaluru-based stockbroking giant, founded in 2010 by Nithin and Nikhil Kamath, reigns as India’s most valuable startup, revolutionizing wealth creation for millions.
Razorpay and Lenskart: Both valued at $7.5 billion, Razorpay (fintech, founded 2014 by Harshil Mathur and Shashank Kumar) and Lenskart (eyewear, founded 2010 by Peyush Bansal and others) are transforming digital payments and eyewear retail, respectively. Lenskart, headquartered in Gurugram, employs over 17,600 people, making it a significant employer.
Groww: This investment platform, founded in 2016 by Harsh Jain, Ishan Bansal, Lalit Keshre, and Neeraj Singh, reached a $7 billion valuation with an impressive 119% revenue growth, reinforcing fintech’s dominance.
Rising Stars and New Entrants
The report highlights 11 new unicorns in 2025, showcasing the ecosystem’s dynamic growth. Among the standout performers:
Zepto: Founded in 2021 by Aadit Palicha and Kaivalya Vohra, this quick-commerce brand is valued at $5.9 billion, with a remarkable 120% revenue growth, cementing its status as one of India’s fastest-scaling consumer internet companies.
OYO: Founded in 2013 by Ritesh Agarwal, this Gurugram-based hospitality unicorn, valued at $5 billion, has raised $3.7 billion in funding, making it one of India’s most-funded startups.
InMobi: A global leader in mobile advertising, founded in 2007 and valued at $5 billion, this AdTech pioneer continues to innovate in monetization.
OfBusiness: Valued at $5 billion, this Gurugram-based B2B platform, founded in 2015, employs 17,000 people, highlighting its role as a top employer.
Icertis: A SaaS leader in contract lifecycle management, founded in 2009 and valued at $5 billion, competing globally.
Meesho: Founded in 2015 by Sanjeev Barnwal and Vidit Aatrey, this e-commerce platform, valued at $3.9 billion, empowers small sellers and entrepreneurs across India.
Geographic Powerhouses
Bengaluru leads as India’s unicorn capital, hosting the highest number of these high-value startups. Delhi-NCR follows closely, with Gurugram-based companies like Lenskart, OYO, and OfBusiness driving growth. Mumbai also remains a critical hub, fostering innovation in fintech and beyond.
A Bright Future for Indian Startups
India’s 73 unicorns in 2025 reflect a robust and evolving startup ecosystem, fueled by innovation, diverse sectors, and strong geographic hubs. With companies like Zerodha, Razorpay, and Zepto leading the charge, and new unicorns emerging, India continues to assert its global influence, blending entrepreneurial spirit with economic impact.