India's 129 unicorns hit $393 Bn valuation as consumer brands anchor 2025 IPO wave

Inc42's June 2026 tracker pegs India at 129 unicorns worth a combined $393 Bn, having raised $118 Bn lifetime. 2025 saw $11 Bn across 936 deals and 18 IPOs raising ₹20,000 Cr in fresh issues, with consumer/retail names like Nykaa, Lenskart, Zepto, boAt and FirstCry leading. Bengaluru hosts 54, Delhi NCR 40, Mumbai 18.

— Source publishedWed, 17 Jun, 2026, 15:26 IST·First seen Wed, 17 Jun, 2026, 15:30 IST·Source Inc42 · Buzz

What happened

Indian Unicorn Ecosystem · Inc42's Indian Unicorn Tracker (June 2026) details 129 unicorns including consumer/retail names like Nykaa, Meesho, Lenskart, Zepto,

Key facts

  • 129 unicorns
  • $118 Bn raised
  • $393 Bn combined valuation
  • $11 Bn 2025 funding
  • 936 deals
  • 18 IPOs
  • ₹20,000 Cr fresh issues
  • 54 Bengaluru unicorns
  • 40 Delhi NCR
  • 18 Mumbai

Why this matters

The Bengaluru-NCR-Mumbai unicorn cluster signals where retail M&A targets and partnership pipelines are densest, especially among IPO-adjacent consumer brands.

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