Indian startups are on fire. Just five years ago, unicorns—tech companies valued over $1 billion—were rare in India. Now, there’s a new unicorn almost every month. If you’re wondering which company sits at the very top, as of May 2025, all eyes are on BYJU’S. Yes, the edtech giant still holds the No 1 unicorn spot in India, even with its share of headline drama.
Why BYJU’S? This isn’t just a company making online learning videos. We’re talking about a business that hit a jaw-dropping valuation of $22 billion at its peak. Even after some market rollercoasters, it’s held onto unicorn status better than any other startup in India. Want to know how they did it, and what this means for other startups aiming for the same success?
- India's Unicorn Boom: Setting the Scene
- Who's Number One Right Now?
- How Did They Get There?
- Behind the Mega Funding Rounds
- Tips for Spotting the Next Unicorn
India's Unicorn Boom: Setting the Scene
If you haven’t been tracking Indian startups, you’re missing out. Just back in 2016, India counted less than ten unicorns—now there are well over 115. The energy in the startup world here is wild. Investors, both local and global, pumped a massive $25 billion into Indian startups in 2021 alone. January 2022 saw four new unicorns in the first week itself. That’s the kind of pace the country is running at right now.
The No 1 unicorn India question keeps popping up because the competition is fierce, with new names grabbing top positions every year. Indian unicorns cover everything from fintech (think Paytm and Razorpay) to edtech (BYJU’S, Unacademy), e-commerce (Flipkart, Meesho), SaaS products (Freshworks), and even food tech (Swiggy, Zomato).
Here’s a quick look at how India stacks up on the global unicorn leaderboard.
| Country | Number of Unicorns (2025) | Total Unicorn Valuation (USD) |
|---|---|---|
| United States | 690+ | $2.3 trillion |
| China | 320+ | $1.2 trillion |
| India | 115+ | $343 billion |
You might be wondering—what drove this boom? A few simple things: a flood of affordable data plans (seriously, India has some of the world’s cheapest mobile data), a fast-growing online population, and a government throwing support behind startups. Throw in world-class engineers and a wave of aggressive investors, and you’ve got a recipe for unicorn mania.
But while the numbers are impressive, building and keeping the top slot is a wild ride. Each year brings more funding, more ambition, and yes, way more competition. Forget safe; India’s startup scene rewards you for thinking big and moving fast.
Who's Number One Right Now?
When it comes to Indian unicorns, the race is wild, but No 1 unicorn India searches almost always point to BYJU’S. This edtech startup isn’t just leading in valuation, it’s also the best-known face of Indian startup success here and abroad.
It’s not just hype. BYJU’S claimed a mind-blowing valuation of $22 billion in early 2023, which still stands as the highest for any Indian unicorn, even after the market gave everyone a reality check. Despite a few rough patches (there were some layoffs, regulatory heat, and investor jitters), BYJU’S is still ahead. Others are close, but nobody’s crossed that 20-billion-dollar mark since.
How does BYJU’S stack up against other giant unicorns in India? Here’s a quick snapshot of the top five as of May 2025:
| Rank | Startup | Sector | Peak Valuation (USD) | Notable Investors |
|---|---|---|---|---|
| 1 | BYJU’S | Edtech | $22 Billion | General Atlantic, Tiger Global |
| 2 | Swiggy | Food Delivery | $12.7 Billion | SoftBank, Prosus |
| 3 | Flipkart | E-Commerce | $12 Billion | Walmart, Tencent |
| 4 | Ola | Mobility | $7.3 Billion | Temasek, SoftBank |
| 5 | Paytm | Fintech | $7 Billion | Alibaba, Ant Financial |
BYJU’S stands out not just with its valuation but with the way it completely changed how Indian students approach online education. None of the others, big as they are—Swiggy, Flipkart, Ola, Paytm—have grabbed headlines quite the same way. When investors and startup watchers talk about unicorns in India, BYJU’S is still the company to beat.
How Did They Get There?
BYJU’S didn’t just luck into success; this was a journey built on aggressive growth moves and some gutsy decisions. The company started off in 2011 when Byju Raveendran, a former teacher, realized Indian students were desperate for engaging ways to prep for exams. Fast-forward a few years, and BYJU’S was offering everything from slick app-based lessons to live online classes and, later, even physical learning centers.
The real turning point came in 2015 when the BYJU’S app launched. Downloads exploded—millions signed up within months. Investors took notice, and soon funding rounds started stacking up. BYJU’S pulled in serious cash from big-name backers like Sequoia Capital, Tencent, and the Chan Zuckerberg Initiative. Each funding round, the valuation kept climbing.
- 2018: BYJU’S became a No 1 unicorn India contender, crossing the $1 billion mark.
- 2021: The company hit a reported $16.5 billion valuation, after raising over $1.5 billion in one year alone.
- By 2022, the valuation peaked near $22 billion, topping all other Indian unicorns.
But it wasn’t just about throwing money around. BYJU’S spent big to acquire smaller edtech startups—WhiteHat Jr, Aakash, and Osmo, to name a few. These deals helped it tap new markets and add tech muscle. The company didn’t stop marketing either. If you’ve seen a cricket match in India, chances are you saw BYJU’S logo everywhere. They sponsored national teams and bought prime-time commercials, making sure everyone from school kids to parents knew the brand.
Of course, there’ve been bumps—chatter about layoffs, regulatory pressure, and the challenge of balancing growth with profits. Still, the BYJU’S playbook is all about big bets, solid tech, and smart storytelling. That’s how they shot up from a local startup to the No 1 unicorn in India’s wild startup race.
Behind the Mega Funding Rounds
Big numbers don’t just appear out of thin air. For BYJU’S, the path to becoming the No 1 unicorn India wasn’t just about building good products — it was about pulling in huge amounts of money from investors who believe in long-term growth. Since 2015, investors like Tiger Global, General Atlantic, Sequoia Capital, and the Chan Zuckerberg Initiative have poured billions into BYJU’S.
Here’s the wild part: BYJU’S has raised over $5 billion across multiple funding rounds. In one of its biggest shots in 2021, it pulled in more than $1.5 billion in a single round. Investors saw India’s hunger for digital education, especially during and after the pandemic, and didn’t want to miss the boat. The company used these funds to buy up competitors (like Aakash Educational Services for nearly $1 billion), boost its tech, and reach students even in remote towns.
Funding rounds aren’t just about the money. They create a loud buzz, drive up a company’s valuation, and can scare off rivals. But they also come with pressure—for BYJU’S, that means constant growth targets, expansion into international markets, and lots of eyes on how the cash gets used.
If you zoom out, you’ll see a pattern. Indian startups that land giant funding rounds do three things right:
- They spot a massive market need before it’s obvious to everyone else.
- They scale crazy fast, often burning through cash to grab market share.
- They get big investors (both Indian and global) excited about their growth story and future expansion.
Funding is fuel, but it’s also a test. The best Indian unicorns use these big rounds to speed ahead of the pack and lock in their spot at the top.
Tips for Spotting the Next Unicorn
Everyone wants to be that friend who says, "I knew about this startup before it became huge." So, how do you actually spot the next No 1 unicorn India before it explodes? It’s not magic—it’s about pattern spotting and looking past the hype.
First up, let’s look at some hard facts. Almost every Indian unicorn in the last three years has come from sectors with tons of space to grow—like fintech, edtech, SaaS, and health tech. Startups going after a real-world problem with a big market win the race. Meesho jumped from small-time reseller platform to unicorn because it tapped India’s massive small business ecosystem.
- Market Size: Big markets mean big opportunities. If a founder is pitching an idea for a small niche, think twice.
- Traction: Is the user base actually growing? Are people sticking around, or do most bounce after trying the app?
- Repeat Founders: According to Tracxn, over 60% of new unicorns since 2022 have had experienced founders—folks who failed or succeeded once before.
- Fundraising Speed: Watch how quickly a startup raises rounds. The top unicorns raised fresh funds every 12 to 18 months—take Zepto for example, which jumped from seed to a unicorn valuation in under two years.
- Profit Path: Chasing growth is great, but VCs in 2024-2025 are asking about profits earlier. If founders talk about making money soon (not "someday"), take them seriously.
Here’s a table with numbers that show what the last wave of unicorns had in common at the time they hit $1 billion:
| Startup Name | Sector | Months to Unicorn | User Base at Unicorn |
|---|---|---|---|
| Zepto | Quick Commerce | 24 | 10 million+ |
| CRED | Fintech | 30 | 8 million+ |
| OYO | Hospitality | 72 | 15,000+ hotels |
Another tip: Keep an eye on which investors are betting big. Sequoia Capital, Tiger Global, and Accel are usually in the first big rounds of India’s unicorns. Their presence signals serious upside. You’ll also notice—unicorns move crazy fast. If you see a startup that’s scaling up hiring, users, and revenue all at once, don’t blink or you’ll miss your shot.
Plenty of wannabe unicorns will hit walls or pivot, but the real outliers keep their heads down and show up in daily life—think Swiggy starting as a tiny food delivery app and now handling millions of orders daily. Bottom line? Unicorns aren’t unicorns by accident. Look for those big markets, smart teams, real user growth, solid money plans, and top-notch backers. That’s the playbook for finding the next big thing.