Global Unicorn Count Tops 1,600: 13 New Additions & 5 Exits in July

The global landscape of private technology companies reached a significant milestone in July, with the total number of “unicorns”—privately held startups valued at $1 billion or more—surpassing 1,600. This expansion was driven by the addition of 13 new companies to the coveted list, even as five others exited, either through public market debuts or acquisitions, signaling a hopeful trend for liquidity across the board.

Among the 13 newly minted unicorns, six are based in the United States, two hail from Sweden, and one each from France, China, Singapore, the UAE, and Saudi Arabia. The sectors leading this wave of new billion-dollar valuations included artificial intelligence applications and infrastructure, e-commerce, and healthcare.

Beyond the new entrants, July also saw five significant “exits,” a crucial indicator for the hundreds of well-funded companies still awaiting their moment of liquidity. These exits collectively underscore a potential thawing in the market, particularly for a board that still holds a combined valuation just shy of $6 trillion. Three unicorns successfully launched initial public offerings (IPOs): San Francisco-based design collaboration platform Figma, Beijing-based autonomous robotics company Geek+, and Atlanta-based insurtech firm Accelerant. Additionally, two companies were acquired: California-based Windsurf, purchased by AI code generation startup Cognition for an undisclosed sum after an earlier, planned $3 billion acquisition by OpenAI fell through; and Texas-based Iodine Software, which specializes in improving payment outcomes for hospitals, acquired by Waystar for $1.25 billion.

The diversity of July’s newly anointed unicorns spans a wide array of industries, from media and entertainment to transportation and, notably, artificial intelligence. In the AI sector, Stockholm-based Lovable, a one-year-old “vibe coding” startup, secured a $200 million Series A round, pushing its valuation to $1.8 billion. The company reported impressive growth, reaching $75 million in annual recurring revenue (ARR) within seven months of monetization, which subsequently accelerated to $100 million ARR. San Francisco’s Fal, a four-year-old provider of media infrastructure AI, raised $125 million in Series C funding, valuing it at $1.5 billion. Multimodal AI solutions lab Reka AI, based in Sunnyvale, California, achieved a $1 billion valuation after a $110 million Series B round that included investments from Nvidia and Snowflake.

In e-commerce, Etraveli, a 24-year-old flight booking technology platform based in Uppsala, Sweden, secured private equity funding led by Kohlberg Kravis Roberts, valuing it at $3.1 billion. This company, which powers flights for Booking.com, had previously been acquired by CVC Capital Partners. Quick commerce service Ninja, a three-year-old Saudi Arabia-based company delivering groceries and essentials across the GCC region, raised $254 million, reaching a $1.5 billion valuation.

The data and analytics space saw Austin, Texas-based Anaconda, a 13-year-old firm simplifying Python and R for data science projects, raise $150 million in Series C funding, valuing it at $1.5 billion. Anaconda reported $150 million in ARR as of July 2025 and confirmed its profitability. In energy, CATL Intelligent, a subsidiary of battery giant Contemporary Amperex Technology, garnered a $1.4 billion valuation for its AI-driven approach to battery materials, oversight, and recycling.

The VR/AR sector welcomed Dubai-based Xpanceo, a four-year-old developer of smart contact lenses, which raised $250 million in Series A funding, valuing it at $1.4 billion. Its prototypes include lenses with biosensors for health monitoring, XR/AR content for gaming, and night vision. Healthcare saw San Francisco’s Ambience Healthcare, a five-year-old AI-powered scribe that integrates into clinical workflows, secure $243 million in Series C funding, achieving a $1.3 billion valuation.

In professional services, French company LumApps, a 12-year-old employee experience platform, merged with Swiss-based Beekeeper, a mobile-first deskless employee management software, in a deal backed by Bridgepoint that valued LumApps at $1.1 billion. The media and entertainment industry saw newsletter publishing platform Substack, an eight-year-old San Francisco company, raise $100 million in Series C funding, reaching a $1.1 billion valuation.

Networking firm Airalo, a six-year-old Singapore-based digital eSIM provider for travelers, raised $220 million in Series C funding, valuing it at $1 billion. Finally, in transportation, Also, a less than one-year-old Palo Alto, California-based spinoff from Rivian, building yet-to-be-launched products in micromobility and e-bikes, raised $200 million, securing a $1 billion valuation.

[[]] Despite global economic headwinds, July’s tech landscape saw a surge of new unicorns and crucial exits, hinting at a vibrant, if selective, market.]]