India, which has the third-largest startup ecosystem in the world, is home to 6 of the world's top 100 unicorns, according to a report released by the Credit Suisse Research Institute today.
The 6 Indian startups that feature on the global top 100 unicorns' list includes BYJU’s, Swiggy, OYO Rooms, Dream11, Razorpay, and Ola Cabs.
Valued at $22 billion at the end of December 2022, edtech platform BYJU's is India's most valued startup and world's 12th, according to the list.
Foodtech platform Swiggy was valued at $10.7 billion, OYO Rooms $9 billion, online gaming portal Dream11 $8 billion, payment gateway Razorpay and Ola were both valued at $7.5 billion each.
The report shows China's ByteDance is the world's most valued unicorn at $140 billion, followed by Elon Musk's SpaceX, SHEIN, Stripe, Canva, Checkout.com and Revolut.
Data shows that while the number of unicorns globally increased to 1,204 in 2022 from 959 in 2021, the cumulative valuation of new unicorns decreased to $556.6 billion in 2022 to $1,159.8 billion in the previous year.
"2022 valuations have reflected a very sharp and downward re-appraisal for many of these companies compared to the heady valuations attached in 2021 – a trend mirrored in the valuations of technology companies in the listed space throughout 2022. Aggregate valuations of the space are still above 2020 levels," Credit Suisse said in the report.
The global banker also released the 'Family 1000' report and found that in Asia Pacific ex-Japan, family-owned companies recorded excess returns of 330 basis points per annum over the period.
It found performance to be stronger in the earlier-generation companies, reflective of the earlier stage of their entrepreneurial lifecycle and the stronger growth that accompanies it.
Some of the largest and oldest family and founder companies in the Asia Pacific region include Samsung, RIL, TCS, SoftBank, Bharti Airtel and Bajaj Finance.
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