According to the data intelligence platform Tracxn, India is now home to 121 unicorns, with Jumbotail, a business-to-business (B2B) e-commerce platform focused on the food and grocery sector, being the most recent addition on June 30, 2025. Startups valued at USD 1 billion or above earn the designation of unicorns. These companies represent breakthrough innovation and significant market disruption.
India has solidly positioned itself as the world’s third-largest startup ecosystem, with over 1.59 lakh startups officially recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15, 2025, per data released by the Ministry of Commerce and Industry. The United States leads with 1,047 unicorns, followed by China with 248 unicorns in second place. Through July 14, 2025, India has witnessed the minting of four new unicorns this year, representing a 25% growth compared to three unicorns during the corresponding timeframe in 2024. Within India’s geography, Bengaluru dominates the unicorn landscape with 52 companies, while Gurugram and Mumbai are tied for second place with 19 unicorns each, per data released by Tracxn.
However, while the magic of unicorns continues to capture popular imagination, a league of startups, better known as ‘soonicorns’, or high-potential startups nearing the billion-dollar valuation club, has been playing a robust role in powering the startup-innovation economy. Today, as soonicorns face the question of scale, artificial intelligence (AI) has emerged as the key force multiplier, core tech, and strategic pivot accelerating this journey. And at the Economic Times (ET) Soonicorns Summit 2025, scheduled to be held on 22 August in Bengaluru, founders and investors will unpack the proven playbook for scaling from lab experiments to billion-dollar revenue models.
“A soonicorn company would ideally exhibit one or more of the metrics—funding more than $40M or valuation over $100M. Soonicorn companies are potential companies that can soon become unicorns in the near future,” Neha Singh, Co-founder of Tracxn, told Economic Times.
Tracxn also considers multiple factors, Singh informed, such as “innovativeness, the technology used, patents filed by the company, team background, customer base, employee count, social media followings on LinkedIn and Facebook, and presence of marquee investors, apart from valuation and funding to consider a company as a soonicorn”.
If ever there was a moment to ride the AAI wave, it is now. The ET Soonicorns Summit 2025 in Bengaluru on 22 August—India’s largest congregation of soonicorns—dives deep into this momentum with its founder-first, funding-focused, and idea-rich day-long agenda.
Here’s a look.
AI & Deep Tech Dominance: An AI-fuelled agenda
Two of the most closely watched names in India’s generative (Gen) AI ecosystem are Sarvam AI and Krutrim, both of which reflect distinct stages in the soonicorn-to-unicorn journey. Backed by Lightspeed Venture Partners and selected under the IndiaAI Mission, Sarvam AI is building India’s sovereign large language models (LLMs) with a sharp focus on Indic languages and reasoning capabilities. Its flagship release, Sarvam-M, a 24-billion parameter hybrid LLM, has outperformed several global models on Indian language benchmarks.
Meanwhile, Krutrim, founded by Ola’s Bhavish Aggarwal, has already crossed the $1 billion valuation mark, making it one of India’s earliest AI unicorns. Its core product, Kruti, is an agentic AI assistant capable of executing real-world digital tasks in over a dozen Indian languages—positioning Krutrim as a homegrown rival to ChatGPT in a multilingual, mobile-first market. Together, they represent India’s ambition to not just adopt, but architect the next wave of foundational AI.
At the Summit, founders and experts will answer: Can India realistically challenge the global AI giants? The answer lies in tech, talent, and scale. Get ready to hear from experts as they share their roadmap towards building India-centric LLMs and agents.
From Pilot to Product‑Market Fit: Playbooks of channelling AI into product innovation
Apart from the heavy-duty panels listed above, a chief attraction is the Fireside chat featuring InMobi Co‑founder Mohit Saxena. The topic, ‘The Next Frontier of Coding: Building a New Indigenous Tech Stack in the AI Age,’ dives into the journey from building one of India’s earliest unicorns to how Indian AI startups can create vertically integrated tech stacks, from source code to scale. Expect rich storytelling and granular insights.
Last but not least, the ethical leadership panel, titled ‘AI’s Ethical Crossroads: Innovation vs Manipulation in a Deepfake Era’, is slated to be a timely discussion on responsible AI development, content authenticity, and India’s ethical guardrails for soonicorns entering the global spotlight.
Why this summit is a must‑attend for AI entrepreneurs
This year’s ET Soonicorns Summit, happening on 22 August 2025 in Bengaluru, is the definitive platform for AI-first founders, soonicorns, unicorn hunters, investors, and policymakers. With its laser theme—‘From Research Labs to Revenue Models: The Billion‑Dollar Blueprint for Scaling Indian AI Startups’—the event promises breakthrough insights, actionable grand strategies, and a roadmap for deep‑tech futures.
The journey from soonicorn to unicorn will be charted through hard data, real stories, and the kind of scale narratives that turn startups into global AI leaders.
360 One Wealth is the presenting partner of the ET Soonicorns Summit 2025.
Frequently asked questions (FAQs):
Q1: What qualifies a startup as a unicorn?
A startup valued at $1 billion or above earns the unicorn designation, representing breakthrough innovation and significant market disruption.
Q2: How many unicorns does India currently have?
India is home to 121 unicorns as of 2025, making it the world’s third-largest startup ecosystem after the US (1,047) and China (248).
Q3: What defines a soonicorn company?
A soonicorn has raised more than $40M in funding or achieved over $100M valuation—essentially high-potential startups nearing unicorn status.
Q4: Which Indian cities lead in unicorn concentration?
Bengaluru dominates with 52 unicorns, while Gurugram and Mumbai are tied for second place with 19 unicorns each.
Q5: How is AI impacting the soonicorn-to-unicorn journey?
AI has emerged as the key force multiplier and strategic pivot, accelerating soonicorns’ scaling journey toward billion-dollar valuations.
(This article is generated and published by the ET Spotlight team. You can get in touch with them at etspotlight@timesinternet.in.)
India has solidly positioned itself as the world’s third-largest startup ecosystem, with over 1.59 lakh startups officially recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of January 15, 2025, per data released by the Ministry of Commerce and Industry. The United States leads with 1,047 unicorns, followed by China with 248 unicorns in second place. Through July 14, 2025, India has witnessed the minting of four new unicorns this year, representing a 25% growth compared to three unicorns during the corresponding timeframe in 2024. Within India’s geography, Bengaluru dominates the unicorn landscape with 52 companies, while Gurugram and Mumbai are tied for second place with 19 unicorns each, per data released by Tracxn.
However, while the magic of unicorns continues to capture popular imagination, a league of startups, better known as ‘soonicorns’, or high-potential startups nearing the billion-dollar valuation club, has been playing a robust role in powering the startup-innovation economy. Today, as soonicorns face the question of scale, artificial intelligence (AI) has emerged as the key force multiplier, core tech, and strategic pivot accelerating this journey. And at the Economic Times (ET) Soonicorns Summit 2025, scheduled to be held on 22 August in Bengaluru, founders and investors will unpack the proven playbook for scaling from lab experiments to billion-dollar revenue models.
Tracxn also considers multiple factors, Singh informed, such as “innovativeness, the technology used, patents filed by the company, team background, customer base, employee count, social media followings on LinkedIn and Facebook, and presence of marquee investors, apart from valuation and funding to consider a company as a soonicorn”.
If ever there was a moment to ride the AAI wave, it is now. The ET Soonicorns Summit 2025 in Bengaluru on 22 August—India’s largest congregation of soonicorns—dives deep into this momentum with its founder-first, funding-focused, and idea-rich day-long agenda.
Here’s a look.
AI & Deep Tech Dominance: An AI-fuelled agenda
- AI Investments in India — Chasing Hype or Backing Real Disruption?
- The billion‑dollar AI blueprint: Scaling Indian startups in the next decade
- Can India Build Its Own ChatGPT or DeepSeek?
Two of the most closely watched names in India’s generative (Gen) AI ecosystem are Sarvam AI and Krutrim, both of which reflect distinct stages in the soonicorn-to-unicorn journey. Backed by Lightspeed Venture Partners and selected under the IndiaAI Mission, Sarvam AI is building India’s sovereign large language models (LLMs) with a sharp focus on Indic languages and reasoning capabilities. Its flagship release, Sarvam-M, a 24-billion parameter hybrid LLM, has outperformed several global models on Indian language benchmarks.
Meanwhile, Krutrim, founded by Ola’s Bhavish Aggarwal, has already crossed the $1 billion valuation mark, making it one of India’s earliest AI unicorns. Its core product, Kruti, is an agentic AI assistant capable of executing real-world digital tasks in over a dozen Indian languages—positioning Krutrim as a homegrown rival to ChatGPT in a multilingual, mobile-first market. Together, they represent India’s ambition to not just adopt, but architect the next wave of foundational AI.
At the Summit, founders and experts will answer: Can India realistically challenge the global AI giants? The answer lies in tech, talent, and scale. Get ready to hear from experts as they share their roadmap towards building India-centric LLMs and agents.
- AI and the Future of Jobs in India — Who Wins, Who Loses?
- AI for Bharat: How Localised Data Centres Can Bridge the Digital Divide
- From Pre‑IPO to Bell Ringing: The CFO Playbook for Navigating 2025’s High‑Stakes Market
From Pilot to Product‑Market Fit: Playbooks of channelling AI into product innovation
- Combatting Financial Fraud: AI Algorithms for Real‑Time Detection & Risk Management
- AI‑Driven Personalisation & Omnichannel Commerce—The Next Retail Battleground
Apart from the heavy-duty panels listed above, a chief attraction is the Fireside chat featuring InMobi Co‑founder Mohit Saxena. The topic, ‘The Next Frontier of Coding: Building a New Indigenous Tech Stack in the AI Age,’ dives into the journey from building one of India’s earliest unicorns to how Indian AI startups can create vertically integrated tech stacks, from source code to scale. Expect rich storytelling and granular insights.
Last but not least, the ethical leadership panel, titled ‘AI’s Ethical Crossroads: Innovation vs Manipulation in a Deepfake Era’, is slated to be a timely discussion on responsible AI development, content authenticity, and India’s ethical guardrails for soonicorns entering the global spotlight.
Why this summit is a must‑attend for AI entrepreneurs
- Timing matters: Between January and early July 2025, India added four new unicorns, rising faster than last year; soonicorns born in AI labs are now chasing unicorn status.
- Deep‑tech, not just narrative: India’s vertical AI opportunity—projected global spending of $47 billion by 2030—positions vertical‑AI-driven soonicorns at the heart of real disruption, with the focus sectors being finance, healthcare, agriculture, and manufacturing.
- Government and infrastructure tailwinds: Under the IndiaAI Mission, startups such as Sarvam AI received GPU access and national support to build domestic LLMs—ideal fuel for soonicorn emergence.
This year’s ET Soonicorns Summit, happening on 22 August 2025 in Bengaluru, is the definitive platform for AI-first founders, soonicorns, unicorn hunters, investors, and policymakers. With its laser theme—‘From Research Labs to Revenue Models: The Billion‑Dollar Blueprint for Scaling Indian AI Startups’—the event promises breakthrough insights, actionable grand strategies, and a roadmap for deep‑tech futures.
The journey from soonicorn to unicorn will be charted through hard data, real stories, and the kind of scale narratives that turn startups into global AI leaders.
360 One Wealth is the presenting partner of the ET Soonicorns Summit 2025.
Frequently asked questions (FAQs):
Q1: What qualifies a startup as a unicorn?
A startup valued at $1 billion or above earns the unicorn designation, representing breakthrough innovation and significant market disruption.
Q2: How many unicorns does India currently have?
India is home to 121 unicorns as of 2025, making it the world’s third-largest startup ecosystem after the US (1,047) and China (248).
Q3: What defines a soonicorn company?
A soonicorn has raised more than $40M in funding or achieved over $100M valuation—essentially high-potential startups nearing unicorn status.
Q4: Which Indian cities lead in unicorn concentration?
Bengaluru dominates with 52 unicorns, while Gurugram and Mumbai are tied for second place with 19 unicorns each.
Q5: How is AI impacting the soonicorn-to-unicorn journey?
AI has emerged as the key force multiplier and strategic pivot, accelerating soonicorns’ scaling journey toward billion-dollar valuations.
(This article is generated and published by the ET Spotlight team. You can get in touch with them at etspotlight@timesinternet.in.)
