Archive · 19 Sep 2025
India's Unicorn Count Reaches 73 Amidst Gaming Industry Changes
India's tech scene is changing.
The country now has 73 'unicorns,' which are startups worth over $1 billion.
A new law has hurt real money gaming (RMG) companies, like Dream11, causing them to lose their unicorn status.
However, 11 new unicorns emerged, mainly in the fintech sector.
Fintech companies, which deal with money and financial technology, are thriving.
Experts say that stable regulations are crucial for startups.
Key investment themes include defense, climate, and deep tech.
India's unicorn count reached 73 in 2025.
The new online gaming act caused RMG companies to lose their unicorn status.
Dream11, Games24x7, Gameskraft and Mobile Premier League are amongst the affected RMG companies.
Fintech firms led the addition of 11 new unicorns.
Zerodha, Razorpay and Lenskart are India's most valuable unicorns.
- Who
- India's tech industry, including RMG and Fintech companies.
- What
- The rise and fall of unicorn valuations, influenced by regulatory changes and market trends.
- When
- 2025
- Where
- India
- Why
- Due to the new online gaming act and a boom in fintech.
- Total Unicorns in 2025
- 73
- New Unicorns in 2025
- 11
- RMG Companies that Lost Unicorn Status
- Dream11, Games24x7, Gameskraft, Mobile Premier League
- Top Unicorns by Valuation
- Zerodha ($8.2B), Razorpay ($7.5B), Lenskart ($7.5B)
- Leading Sector for New Unicorns
- Fintech