Dunzo, Practo, Rapido Drop Out Of Hurun India's Future Unicorns List

Popular startup companies including Dunzo, Practo and Rapido have dropped out of the Hurun India Future Unicorn Index 2024. They are among 25 promising startups dropping out from the prestigious list.

This development comes even as the collective valuation of India's potential future unicorns surged to $58 billion, marking a 1.8% increase from the previous year.

Startups like CogoPort in logistics, NeoGrowth in fintech, and Simple Energy in electric vehicles also dropped out, citing various reasons including market dynamics, strategic shifts, and financial challenges. Gaana in media and entertainment, Koo in social media, and Bizongo in e-commerce were also among startups that couldn’t maintain their momentum.

Startups that have exited the Hurun India Future Unicorn Index 2024 also include Jar, Bizongo, Fashinza, Arzooo, Avataar, Park+, Paper Boat, SirionLabs, WayCool, Axio, Dotpe, Jai Kisan, Melorra, Ultraviolette, mFine, and RenewBuy. Each of these companies, from various sectors such as fintech, e-commerce, manufacturing, healthcare, and more, faced distinct challenges leading to their departure from the list.

Among startups who exited the list, only three became unicorns—quick commerce platform Zepto, fintech company InCred Finance, and logistics startup Porter. Meanwhile, travel platform Ixigo, opted for an initial public offering, thereby transitioning out of the future unicorn category.

Hurun classifies startups founded in the 2000s with valuations between $200 million and $1 billion that are yet to be listed publicly as 'future unicorns'. Startups can drop out of the list due to several factors, including going public through an IPO, acquisitions, or experiencing a valuation drop below the specified threshold, the report stated.