India has Minted 14 New Unicorns in Jan-June Period

Fourteen Indian companies joined the unicorn club between January and June 1, market intelligence provider Tracxn said on Wednesday.

In the same period last year, 13 companies became unicorns, or those privately held companies valued at $1 billion or more.

Tracxn tracks 1.4 million startups across 1,800 sectors globally. India ranks third in overall unicorns created, with the United States in first position, followed by China, Tracxn added.

The unicorns minted this year include automation provider Uniphore, interior solutions company LivSpace, analytics company Fractal, Games24x7, ElasticRun and social commerce company DealShare.

The top three unicorns by total equity funding so far this year are Fractal, Uniphore and LivSpace.

Indian startups are going through a downturn in investor sentiment, or a “funding winter”, amid a slowdown across categories, economic volatility, increase in interest rates, steep surge in inflation and commodity prices, as well as currency depreciation.

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