Hurun Global Unicorn Index 2025 – Countries List.
In 2025, the number of unicorns around the world has reached a new record. According to the Hurun Global Unicorn Index 2025, there are now 1,523 private startups, each valued at over $1 billion. That’s 70 more than last year!
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Together, these unicorns are worth a huge amount — about $5.6 trillion in total.
A “unicorn” is a private startup company that is valued at over $1 billion.
The term was first used in 2013 by Aileen Lee, an American venture capitalist. She chose the word “unicorn” because these kinds of companies are very rare and special, just like the mythical creature. It takes a unique mix of ideas, timing, and hard work for a startup to reach such a high value.
These startups are now found in 52 countries, which is a 120% increase since 2019. They are active in 307 cities, showing a 160% growth in their global reach compared to last year.
Asian countries in Hurun Unicorn Index 2025
China, India, Israel, South Korea and Singapore are leading in the top 10 hurun unicorn list 2025. China is in 2nd position with 343 no. of unicorns, india in 3rd position with 64 no. of unicorns, Israel in 8th position with 20 no. of unicorns, South Korea in 9th position with 18 no. of unicorns and Singapore in 9th position with 18 no. of unicorn.
Top Countries of HURUN UNICORN INDEX 2025
USA
The United States is still the top country for unicorns, with 758 in total — almost half of all unicorns in the world. In the past year alone, the U.S. added 55 new unicorns.
Six of the world’s ten most valuable unicorns are also based in the U.S.
San Francisco remains the “Unicorn Capital of the World” with 199 unicorns, followed by New York, which has 142.
CHINA
China holds the second spot with 343 unicorns, mainly based in big cities like Beijing, Shanghai, and Shenzhen. China is also home to three of the world’s top 10 most valuable unicorns: ByteDance, Ant Group, and Shein.
INDIA
India is now ranked 3rd worldwide, with 64 unicorns
The top Indian unicorn hubs are:
- Bengaluru in 7th place globally,
- Mumbai at 22nd,
- Gurugram entering the global top 30 at 27th
European countries are growing stronger in the unicorn space, with a total of 112 unicorns. Germany leads with 36, followed by France with 30. Other European countries like Sweden, Finland, and Luxembourg also made it into the top 30.
Finishing the list of the top 10, Singapore has moved up to 9th place this year after adding one new unicorn, bringing its total to 18 unicorns — the same number as South Korea.
Top 10 Countries of Global Unicorn Index 2025
Where are the world’s unicorns based? Top 10 countries on the Global Unicorn Index 2025
| Rank | Country | Total no. of Unicorns in 2025 | Cities with the most Unicorns (with City Ranks) |
| 1 – | USA | 758 | San Francisco (1), New York (2), Palo Alto (8), Boston (10), Austin (14), Mountain View (16), Chicago (17), Redwood City (19), Los Angeles (19), Denver (24), Cambridge, US (27), San Jose (27), Seattle (27) |
| 2 – | China | 343 | Beijing (3), Shanghai (4), Shenzhen (6), Guangzhou (11), Hangzhou (12), Suzhou (22) |
| 3 – | India | 64 | Bengaluru (7), Mumbai (22), Gurugram (27) |
| 4 – | UK | 61 | London (5) |
| 5 – | Germany | 36 | Berlin (13) |
| 6 – | France | 30 | Paris (8) |
| 7↑ | Canada | 28 | Toronto (24) |
| 8↓ | Israel | 20 | Tel Aviv (24) |
| 9 – | South Korea | 18 | Seoul (17) |
| 9↑ | Singapore | 18 | Singapore (14 |
Conclusion: Global Unicorn Index 2025
The 2025 Hurun Global Unicorn Index shows a thriving global startup scene, with the US and China leading in the number of unicorns. India holds strong at 3rd place with 64 billion-dollar startups, highlighting its growing influence in innovation and entrepreneurship. As unicorns continue to spread across more countries and cities, India’s momentum in tech and digital finance signals a promising future in the global startup ecosystem.
Faqs – Hurun Unicorn Index 2025
What is a unicorn in the startup world?
A unicorn is a privately held startup company valued at over $1 billion.
What is the Hurun Global Unicorn Index?
It is a yearly ranking by Hurun Research that lists the world’s top unicorn startups by country, city, and sector.
How does India compare to the US and China?
India follows the United States (758 unicorns) and China (343 unicorns), showing strong growth in the startup ecosystem.
