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Startups

Unicorns surge to 500 in number as US and China account for 70%

India, South Korea and Indonesia make top 10 on global list with Japan at No 11

Eighty-nine startups have gained unicorn status despite concerns that the novel coronavirus would hamper their fundraising ability.

PALO ALTO, U.S. -- The world's unicorn population has reached 500, doubling in two years amid traditional industries' increased digitization efforts and use of artificial intelligence.

Forter, a U.S.-Israel cybersecurity startup, became the 500th unicorn, a startup whose corporate value exceeds $1 billion, on Nov. 19, when its valuation reached $1.3 billion, according to U.S. research company CB Insights.

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