Bigger India
India Hits Record Number of $1 Billion Startups
India now sits third in the table of countries with the most start-up unicorn companies behind powerhouses the United States and China.
Unicorns may be mythical beasts in the animal kingdom but in Indian business, they are becoming more and more common. The unicorn here is not a fabled horse with a horn on its head but refers to a specific type of company. To those unaware, a unicorn is a start-up company which surpasses a $1 billion valuation. The term was coined in 2013 by venture capitalist Aileen Lee as it refers to the statistical rarity of this happening.