PrivateCircle’s Post

🚨 India’s unicorn workforce decreased by 6.7K employees (Aug'23 - Aug'24) An analysis by PrivateCircle Research reveals that the total workforce of 116 Indian unicorns dropped from 4,17,561 in Aug 2023 to 4,10,829 in Aug 2024. 𝐊𝐞𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 📈 𝐓𝐨𝐩 𝐇𝐢𝐫𝐢𝐧𝐠 𝐇𝐮𝐛𝐬: Delhi NCR led with the most additions, followed by Chennai and Bengaluru. 📉 𝐃𝐞𝐜𝐥𝐢𝐧𝐞𝐬: Mumbai, Pune, and Hyderabad saw net decreases in employees. 𝐀𝐯𝐞𝐫𝐚𝐠𝐞 𝐀𝐭𝐭𝐫𝐢𝐭𝐢𝐨𝐧: 4.5% across unicorns 𝐋𝐨𝐰𝐞𝐬𝐭 𝐀𝐭𝐭𝐫𝐢𝐭𝐢𝐨𝐧: Zerodha, Zoho, MapMyIndia (~1%) 𝐏𝐞𝐚𝐤 𝐇𝐢𝐫𝐢𝐧𝐠: March 2024 (42K employees added) 𝐇𝐢𝐠𝐡𝐞𝐬𝐭 𝐀𝐭𝐭𝐫𝐢𝐭𝐢𝐨𝐧: Sep 2023 (39K employees left) "We found that the compounded revenue growth among most unicorns has been in high double digits over a two year period and yet these unicorns have maintained stable employee numbers. This signals efficient usage of human capital even during periods of high growth," Murali Loganathan of PrivateCircle Research added. Polygon, Hasura, and 5irechain are excluded from this analysis as they did not have employee count entries in EPFO (Employment Provident Fund Organisation) data. This could be because these companies are headquartered outside India. We have also excluded Rivigo and Shopclues as they have been acquired at valuations lower than $1 bn (unicorn valuation). Data analysis by: Sumanjan Kumar C S Discover how India’s unicorn landscape is evolving with changing workforce dynamics. Full report link in comments. 👇 #StartupJobs #IndiaUnicorns #PrivateCircleResearch #WorkforceTrends #TechJobs #HRInsights