India Adds 6 New Unicorns in 2025 Amidst Funding Slowdown

• India's startup ecosystem saw a significant slowdown in 2025, adding only 6 new unicorns compared to 45 in 2021.
• The country now ranks third globally with approximately 125 active unicorns, behind the US and China.
• The slowdown is attributed to tight capital conditions, reset valuations post 2022-24 funding correction, and fewer large primary funding rounds.
• Unicorn status was often achieved through secondary transactions, minority investments, or gradual re-ratings rather than new capital infusions.
• The 6 new unicorns are Netradyne, Porter, Drools, Jumbotail, Fireflies.ai, and Dhan, spanning AI, logistics, pet food, B2B, and fintech sectors.

Why It Matters: India's unicorn growth slowed in 2025 with only 6 new additions, reflecting a tighter funding environment.