Ranked: Cities with Most Unicorns in the World

As of October 2025, the world has approximately 1,290 unicorns (as per CB Insights)

What are unicorns? The are privately held (unlisted) startups companies that are valued at more than $1 billion. So if a company is valued equal or more than a $1 billion, it is considered to be a unicorn.

While there are multiple startup hubs around the world, San Francisco, New York and Beijing lead as the cities with the highest number of unicorns.

7 US cities make it to the top 15 list, while 3 from China and 2 from India also included. One each are also included from UK, France and Germany.

Within India, startup hubs Bengaluru and Mumbai take the top spots. 

Here are the detailed rankings of the top 15 cities:

Sr no.	City	Country	No. of Unicorns
1	San Francisco	USA	195
2	New York	USA	121
3	Beijing	China	61
4	London	UK	46
5	Shanghai	China	34
6	Palo Alto	USA	30
7	Bengaluru	India	27
8	Paris	France	23
9	Austin	USA	19
10	Berlin	Germany	19
11	Boston	USA	19
12	Chicago	USA	17
13	Hangzhou	China	16
14	Mumbai	India	15
15	Redwood City	USA	15