In a news that further builds India’s reputation in the world startup ecosystem, after being the third largest startup ecosystem in the world, India has now achieved the celebratory feat of having the highest number of unicorn startups outside the US.

According to a CB Insights report, the South Asian country is home to the second highest number of unicorn startups in the world, outside of the US. While China has the highest number of unicorn startups after the United States, the Indian subcontinent is still way ahead of a lot of countries like the UK, Germany and South Korea when it comes to churning out successfully startups.

For the uninitiated, a Unicorn startup is a privately owned startup that has reached a valuation mounting to $1 billion or more. Typically, a unicorn startup climbs the growth ladder fast, all thanks to the fund money. Mostly, they're not that profitable but the main plan here is to first to set the business at a particular "scale" and then start focusing on making profits after it has successfully acquired a decent market share.

Startups right now basking in the Unicorn glory globally include Oscar, Uber, TransferWise, Prosper etc. Closer home, we have 9 unicorn startups including Flipkart, Hike, InMobi, Ola Cabs, Paytm, ReNew Power Ventures, ShopClues, Snapdeal and Zomato.

Outside of the US, at 55, China has the most number of private unicorn companies. The country also has the top 3 most highly valued private non-US firms, led by $50 billion ride-hailing company Didi Chuxing followed by $46 billion electronics company Xiaomi and $18.5 billion online lending platform

Outside of the US and China, India’s ecommerce giant Flipkart at $11.6 billion is the the most valuable private company. It is followed by Sweden’s $8.5 billion music streaming service Spotify in the second place and $ 7 billion Indian ecommerce site Snapdeal at the third place.

The report shares that the global unicorn club currently has a total of 214 members. The total collective worth of the members of the unicorn club is a jaw-dropping $745 billion.

“Following China, the most unicorn-rich countries are India and the UK, respectively. No “Other” country takes more than 2% of the world’s unicorns located outside the US,” revealed the CB Insights report.

While China currently has a whopping 52 per cent of its unicorn firms located outside of the US, India has 9 per cent of its unicorns based elsewhere than the US and UK has 8 per cent of its unicorn companies grounded outside of the United States.

The percentage of unicorn startups based outside of the US has been increasing slowly but steadily over the past few years. While in 2014, 37 per cent of all unicorns were located outside of the US. In 2015, this figure jumped to 53 per cent, and in 2016 it again rose to 58 per cent. According to the report, so far this year, there have been 42 additions to the global unicorn club, out of which, 24 are based outside of the United States.

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