Unicorns by Country 2025
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5 Countries with the Most Unicorns
Country | # of Unicorns in 2024↓ | Total Valuation 2024 (billions) | |
|---|---|---|---|
 | United States | 656 | 2110 |
 | China | 168 | 641 |
 | India | 71 | 192 |
 | United Kingdom | 53 | 177 |
 | Germany | 30 | 79.5 |
 | France | 26 | 61 |
 | Israel | 25 | 56.3 |
 | Canada | 21 | 52.2 |
 | Brazil | 17 | 38.6 |
 | Singapore | 16 | 92.9 |
 | South Korea | 14 | 32.2 |
 | Australia | 9 | 42.3 |
 | Netherlands | 9 | 24.5 |
 | Mexico | 8 | 18.7 |
 | Indonesia | 7 | 10.4 |
 | Japan | 7 | 9.82 |
 | Ireland | 7 | 11.1 |
 | Sweden | 6 | 21.6 |
 | Switzerland | 6 | 12.3 |
 | Hong Kong | 6 | 8.65 |
 | Spain | 5 | 7.15 |
 | United Arab Emirates | 5 | 7.55 |
 | Finland | 4 | 12.5 |
 | Norway | 4 | 4.5 |
 | Turkey | 3 | 13.6 |
 | Thailand | 3 | 3.5 |
 | Italy | 3 | 4.55 |
 | Colombia | 3 | 7.4 |
 | Belgium | 3 | 10.1 |
 | Vietnam | 2 | 5.27 |
 | Chile | 2 | 2.5 |
 | Greece | 2 | 3.32 |
 | Austria | 2 | 7.61 |
 | Denmark | 2 | 6.7 |
 | Croatia | 2 | 3 |
 | Lithuania | 2 | 7.53 |
 | Estonia | 2 | 9.9 |
 | Seychelles | 2 | 11.8 |
 | Nigeria | 1 | 2 |
 | Egypt | 1 | 1 |
 | Philippines | 1 | 1 |
 | South Africa | 1 | 1.59 |
 | Argentina | 1 | 2.45 |
 | Malaysia | 1 | 1.7 |
 | Saudi Arabia | 1 | 1 |
 | Senegal | 1 | 1.7 |
 | Ecuador | 1 | 1.5 |
 | Czech Republic | 1 | 1.2 |
 | Luxembourg | 1 | 2 |
 | Cayman Islands | 1 | 1 |
 | Bermuda | 1 | 1.6 |
 | Liechtenstein | 1 | 1 |
- 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.
In 2023, the global landscape of startup companies known as unicorns, valued at over one billion US dollars, has grown to 1,361, a slight increase from 1,312 in 2022. The United States leads the pack with 653 unicorns, including major players like SpaceX, Instacart, Stripe, Epic Games, and Databricks. Collectively, US unicorns boast a combined value of $360 billion.
China follows as the second-largest home to unicorns with 169, the largest being ByteDance Ltd., valued at $180 billion. India ranks third with 70 unicorns, highlighted by BYJU’s, Swiggy, and OYO Rooms. The United Kingdom houses 48 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 29 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 25 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.
Canada’s unicorn scene 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 15 unicorns. Lastly, South Korea rounds out the top ten with 14 unicorns, with Sungri Motor Plant in Tokchon as a prominent example.
