India dominates 2025 IPO rush as 20 VC-backed startups go public and unicorns multiply

VC-backed startups are listed in just five years now

India led the global IPO market in 2025, fueled by venture-backed startups reaching public-market readiness in under five years. The momentum reflects a changing founder mindset focused on scaling earlier and preparing for listing. In total, 20 VC-backed startups went public and nine new unicorns emerged, alongside a count of 28 profitable unicorns, signaling a maturing startup ecosystem.