According to a report by private market intelligence platform PrivateCircle, Delhi NCR-based unicorns hired the most workers among all major Indian startup hubs between August 2023 and August 2024, surpassing important regions like Bengaluru and Mumbai. Companies headquartered in Delhi, including PolicyBazaar, Blinkit, and Zomato, dominated employment in the national capital area.

Unicorn hiring decreased by 7,024 workers in Mumbai, a startup hotspot, nearly identical to what happened in Pune and Hyderabad.

According to PrivateCircle's research, unicorns—startups valued at $1 billion or more—hired 18,554 people in the NCR in the course of a year, a number much greater than Bengaluru, which added 2,384 workers.

Bengaluru has a larger employee base than other regions due to its home to 42 unicorns, the Delhi-NCR belt having 26 and Mumbai (including Pune and Thane) having 25, out of the 117 unicorns in India.

Despite the fact that unicorn startups have expanded and made more money, the majority of their workforce has stayed the same, partly due to recent rounds of widespread layoffs.

"In India, unicorns still employ a lot of people. Murali Logananthan, Director of Research at PrivateCircle, stated, "We find that over a two-year period, the compounded revenue growth among most unicorns has been in high double digits. Despite this, these unicorns have maintained stable employee numbers."

The PrivateCircle report did not provide information on the total number of employees in the three regions, so it's possible that while Delhi NCR added more employees during the period under review, the overall number of people working at startups in the region is lower than that of Bengaluru.

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