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Startup Indian Virtual Market (SIVM)

At the inception of 2021 we started keeping track of the valuation of all Unicorns in India, subsequent funds raised and the hike in valuations, startups that emerged as Unicorns and those who's valuation was slashed by investors. To share our work with you in a fun and interactive way we created the cards below.


Here’s the trick to understand these cards: Movement in the Nifty 50 index, which gained 20% in 2023, is often considered as representative of how the Indian markets performed during the year. Similarly, we created the Unicorn Index that represents how the startups performed overall, while the sectoral ETFs show how the specific sectors performed in 2023. For eg, the Edtech ETF shows that the startups in this sector lost their value by 49.72% in 2023.

Startup Stocks

Index & ETF Prices (2023)



+ 15.30%


- 4.10%

Startup Indian Unicorn
Index (SIUI)


Delivery & Logistics ETF

+ 28.44%



- 49.72%


Index & ETF Prices

Prices of Unicorn scrips
(last updated on 08.01.2024)

Current Price ($)
% Gain in 2022
% Gain in 2023
Prices of Unicorn Scrips
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