India’s technology ecosystem is entering a new phase of maturity, marked by significantly faster journeys to public markets and the country’s emergence as the world’s most active IPO market in 2025, according to the India Tech Unicorns & Exits Report 2025 released by Orios Venture Partners.

The report highlights a clear structural shift in India’s startup lifecycle. Several venture-backed companies are now reaching IPO within five years of raising institutional capital, a sharp contrast to earlier generations that took over a decade to build scale, infrastructure and market readiness. This acceleration reflects the depth of India’s digital ecosystem, stronger founder experience, and growing confidence from public market investors in technology-led business models.

New-age consumer and digital-first companies such as Groww, Physics Wallah, Zepto and Ola Electric exemplify this trend, demonstrating how mature payments infrastructure, logistics networks, digital distribution and governance frameworks are enabling faster scale and earlier public listings.

In parallel, India retained its position as the world’s number one IPO market by volume in 2025, reinforcing its status as a global capital markets hub. The year saw 20 VC backed startups list publicly, nine new unicorns added to an ecosystem now valued at $419 billion, over 1,540 unicorns overall, and a growing base of 28 profitable unicorns, signalling a clear shift away from growth at any cost toward sustainable, market ready businesses.

“Indian startups are no longer building with private exits alone in mind,” said Rehan Yar Khan, Managing Partner at Orios Venture Partners. “What we are seeing now is a fundamental change in founder mindset and ecosystem capability. Companies are designing for scale, governance and public market readiness much earlier, which is why IPO timelines are compressing. This is a sign of ecosystem maturity, not excess.”

Beyond consumer technology, 2025 marked a defining year for India’s deep tech and AI ecosystem. The country witnessed the emergence of its first AI unicorn of the year, alongside strong funding momentum in companies building core AI models and infrastructure, including Netradyne and Krutrim. Exit activity also accelerated, with IPOs rising year-on-year and acquisitions increasing by over seventy percent, reflecting improving liquidity conditions and sustained buyer confidence.

The report further underscores the growing depth and diversity of India’s startup landscape. Women-founded and co-founded startups now account for 17 unicorns across sectors such as consumer, fintech, enterprise technology and digital platforms. Bengaluru continued to strengthen its position as India’s unicorn capital, while e-commerce once again emerged as the dominant sector in terms of funding activity and unicorn creation.

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Taken together, these developments point to a clear evolution in India’s technology ecosystem, from rapid expansion to durable scale. Faster IPO timelines, a rising pool of profitable unicorns, and leadership in global IPO activity indicate a market increasingly supported by strong digital infrastructure, experienced founders and disciplined capital.

As India heads into 2026 with a robust pipeline of IPO ready startups, the report positions the country not just as a leading startup hub, but as a market setting the pace for how venture-backed companies transition into public markets globally.