Unicorns by Country 2025
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5 Countries with the Most Unicorns
Country | # of Unicorn Companies 2025↓ | Total Valuation 2025 | |
|---|---|---|---|
 | United States | 712 | $2.9T |
 | China | 157 | $687.1B |
 | India | 69 | $164B |
 | United Kingdom | 55 | $190B |
 | Germany | 32 | $86B |
 | France | 29 | $72.9B |
 | Israel | 25 | $47.4B |
 | Canada | 22 | $57.5B |
 | Brazil | 18 | $37.1B |
 | South Korea | 14 | $33.4B |
 | Singapore | 14 | $87.8B |
 | Mexico | 9 | $13.7B |
 | Japan | 9 | $11.8B |
 | Australia | 9 | $48.8B |
 | Netherlands | 9 | $24.5B |
 | Ireland | 9 | $13.7B |
 | Indonesia | 7 | $10.4B |
 | Hong Kong | 7 | $9.7B |
 | Sweden | 6 | $22.1B |
 | Switzerland | 6 | $9.8B |
 | Spain | 5 | $7.7B |
 | United Arab Emirates | 5 | $9.3B |
 | Norway | 5 | $5.5B |
 | Colombia | 4 | $8.4B |
 | Finland | 4 | $14.9B |
 | Italy | 3 | $4.5B |
 | Belgium | 3 | $11.9B |
 | Nigeria | 2 | $3B |
 | Vietnam | 2 | $5.3B |
 | Thailand | 2 | $2.5B |
 | Chile | 2 | $2.5B |
 | Greece | 2 | $3.3B |
 | Austria | 2 | $7.6B |
 | Denmark | 2 | $6.7B |
 | Croatia | 2 | $3B |
 | Lithuania | 2 | $8.4B |
 | Estonia | 2 | $9.9B |
 | Seychelles | 2 | $11.8B |
 | Egypt | 1 | $1B |
 | Philippines | 1 | $1B |
 | Turkey | 1 | $2B |
 | South Africa | 1 | $1.6B |
 | Argentina | 1 | $2.8B |
 | Uzbekistan | 1 | $1.2B |
 | Malaysia | 1 | $1.7B |
 | Saudi Arabia | 1 | $1B |
 | Senegal | 1 | $1.7B |
 | Ecuador | 1 | $1.5B |
 | Czechia | 1 | $1.2B |
 | Portugal | 1 | $1.3B |
 | New Zealand | 1 | $1B |
 | Luxembourg | 1 | $2B |
 | Malta | 1 | $1B |
 | Cayman Islands | 1 | $1B |
 | Liechtenstein | 1 | $1B |
| Total | 1,286 | $4.6T |
- For the purposes of this data evaluation, a unicorn is defined as a privately held company with a valuation of $1 billion USD (1B+) or higher.
As of 2024, the global landscape of startup companies valued at over one billion US dollars known as unicorns, has grown to about 1,450, a notable increase from 1,361 in 2023. The United States leads the pack with 656 unicorns, including major players like SpaceX, Instacart, Stripe, Epic Games, and Databricks. Collectively, US unicorns boast a combined value of over $1.2 trillion.
China follows as the second-largest home to unicorns with 168, the largest being ByteDance Ltd., valued at $200 billion. India ranks third with 71 unicorns, highlighted by BYJU’s, Swiggy, and OYO Rooms. The United Kingdom houses 53 unicorns, led by Checkout.com, valued at 40 billion US dollars, along with other notable names like Benevolent AI, Brewdog, Oaknorth, and Improbable.
Germany claims 30 unicorns, including well-known companies like Delivery Hero, Celonis, and BioNTech. France’s top unicorn, Back Market, an online marketplace for refurbished electronics, leads among its total of 26 unicorns. Rapyd, an Israel-founded unicorn now based in the US and valued at $15 billion, tops the list for Israel, which also includes Deel, Gusto, Wiz, and Navan, among its 25 unicorns.
Canada’s unicorn scene of 21 is led by 1Password, a Toronto-based tech company valued at 6.8 billion dollars, alongside Dapper Labs, Clearco, Ada, and Clio. Brazil boasts unicorns like QuintoAndar and C6 Bank, each estimated at 5 billion dollars, contributing to its total of 17 unicorns. South Korea rounds out the top ten countries by unicorn count, with around 14 unicorns as of 2024. Notable examples include Krafton (gaming), Viva Republica (Toss – fintech), and Kurly (e-commerce).
