In July 2025, the Crunchbase Unicorn Board achieved a significant milestone by surpassing 1,600 private companies globally that are valued at $1 billion or more. This remarkable growth reflects the dynamic landscape of innovation and investment across various sectors, including artificial intelligence (AI), e-commerce, healthcare, and more. The addition of 13 new unicorns during the month, alongside five notable exits, signals a promising trend for the startup ecosystem, suggesting increased liquidity and investor confidence.
The Unicorn Board, which tracks private companies with post-money valuations exceeding $1 billion, now boasts a collective valuation of just under $6 trillion. This figure underscores the immense potential and economic impact of these high-growth startups, which are often at the forefront of technological advancements and market disruption.
Among the 13 new unicorns added in July, six are based in the United States, while the remaining seven hail from various countries, including Sweden, France, China, Singapore, the United Arab Emirates (UAE), and Saudi Arabia. This geographic diversity highlights the global nature of the unicorn phenomenon, as innovative ideas and business models continue to emerge from different corners of the world.
The leading sectors for new unicorns in July were AI applications and infrastructure, e-commerce, and healthcare. These industries are experiencing rapid growth due to increasing consumer demand, technological advancements, and the ongoing digital transformation across various sectors. As businesses adapt to changing market conditions, the need for innovative solutions has never been greater.
In the realm of AI, three notable companies joined the ranks of unicorns in July. Lovable, a Stockholm-based startup specializing in vibe coding, raised $200 million in a Series A funding round led by Accel. At just one year old, Lovable achieved a valuation of $1.8 billion, driven by its impressive growth trajectory. The company reported reaching $75 million in annual recurring revenue (ARR) within seven months of launching its revenue model, and following its funding announcement, it accelerated growth to $100 million in ARR. With 2.3 million users and 180,000 subscribers, Lovable is poised to make a significant impact in the coding and development space.
Another AI-focused unicorn, Fal, is a media infrastructure provider based in San Francisco. The four-year-old company raised $125 million in a Series C funding round led by Meritech Capital Partners, achieving a valuation of $1.5 billion. Fal’s innovative solutions are designed to enhance media production and distribution, catering to the growing demand for high-quality content in an increasingly digital world.
Reka AI, a multimodal AI solutions lab based in Sunnyvale, California, also joined the unicorn club in July. The three-year-old company secured $110 million in a Series B funding round from prominent investors, including Nvidia and Snowflake. Reka AI’s valuation reached $1 billion, reflecting its commitment to developing cutting-edge AI technologies that address complex challenges across various industries.
E-commerce continues to be a hotbed for unicorn formation, with two new entrants making headlines in July. Etraveli, a tech platform for booking flights, raised private equity funding led by Kohlberg Kravis Roberts. The 24-year-old Uppsala, Sweden-based company, which owns multiple travel brands and powers flights for Booking.com, was valued at $3.1 billion. Etraveli’s extensive experience in the travel industry positions it well to capitalize on the resurgence of travel demand post-pandemic.
Ninja, a quick commerce service based in Saudi Arabia, also joined the unicorn ranks after raising $254 million in funding led by Riyad Capital. The three-year-old company specializes in delivering groceries and essentials across Saudi Arabia, Bahrain, Qatar, and Kuwait, achieving a valuation of $1.5 billion. Ninja’s success reflects the growing trend of on-demand delivery services, which have gained popularity among consumers seeking convenience and speed.
In the data and analytics sector, Anaconda, a company that simplifies the management of Python and R for data science projects, raised $150 million in a Series C funding round led by Insight Partners. Based in Austin, Texas, Anaconda has been in operation for 13 years and achieved a valuation of $1.5 billion. The company reported $150 million in ARR as of July 2025 and emphasized its profitability, showcasing the strong demand for data science tools and platforms.
The energy sector welcomed CATL Intelligent, a subsidiary of battery provider Contemporary Amperex Technology, which raised an undisclosed amount in Series A funding. Based in Fujian, China, CATL Intelligent is leveraging AI to innovate its battery business, focusing on materials, oversight, and recycling. The company’s valuation reached $1.4 billion, highlighting the increasing importance of sustainable energy solutions in today’s market.
In the realm of virtual reality and augmented reality (VR/AR), Xpanceo, a Dubai-based developer of smart contact lenses, raised $250 million in a Series A funding round led by Opportunity Venture. The four-year-old company aims to revolutionize health monitoring and gaming experiences through its innovative lens technology, achieving a valuation of $1.4 billion.
Healthcare innovation continues to thrive, as evidenced by the emergence of Ambience Healthcare, a San Francisco-based company that integrates note-taking scribe technology into clinical workflows. Ambience Healthcare raised $243 million in a Series C funding round led by Andreessen Horowitz and Oak HC/FT, achieving a valuation of $1.3 billion. The company’s solutions aim to streamline healthcare documentation processes, ultimately improving patient care and outcomes.
Professional services also saw a significant development with LumApps, an employee experience platform that merged with Swiss-based mobile-first deskless employee management software Beekeeper. Backed by London-based Bridgepoint, LumApps, which is based in France, was valued at $1.1 billion. This merger reflects the growing emphasis on enhancing employee engagement and productivity in the modern workplace.
In the media and entertainment sector, Substack, a newsletter publishing platform, raised $100 million in a Series C funding round led by Bond and TCG. The eight-year-old San Francisco-based company achieved a valuation of $1.1 billion, capitalizing on the rising trend of independent content creation and subscription-based models.
Networking solutions also gained traction with Airalo, a digital eSIM provider for travelers. The six-year-old Singapore-based company raised $220 million in a Series C funding round led by CVC Capital Partners, achieving a valuation of $1 billion. Airalo’s innovative approach to connectivity for travelers addresses the growing demand for seamless international communication.
Transportation innovation was represented by Also, a spinoff from Rivian, which focuses on micromobility and e-bikes. The Palo Alto, California-based company raised $200 million in funding led by Greenoaks, achieving a valuation of $1 billion. As urban mobility continues to evolve, Also’s products are positioned to meet the needs of environmentally conscious consumers seeking alternative transportation options.
In addition to the 13 new unicorns, July also witnessed five notable exits, indicating a healthy cycle of liquidity in the startup ecosystem. Three companies went public: Figma, a design collaboration platform based in San Francisco; Geek+, an autonomous robotics company from Beijing; and Accelerant, an insurtech firm based in Atlanta. These IPOs not only provide a return on investment for early backers but also pave the way for further growth and innovation in their respective industries.
Two companies were acquired during the month, further contributing to the dynamic landscape of exits. Windsurf, a California-based company focused on AI code generation, was acquired by Cognition for an undisclosed price after a previously planned $3 billion acquisition by OpenAI fell through. Additionally, Iodine Software, which aims to improve payment outcomes for hospitals, was acquired by Waystar for $1.25 billion. These acquisitions reflect the ongoing consolidation in the tech sector, as larger companies seek to enhance their capabilities through strategic partnerships.
The steady pace of unicorn births and exits in July suggests a robust funding environment, with investors actively seeking opportunities in high-growth sectors. As the global economy continues to recover and adapt to new challenges, the startup ecosystem remains resilient, fostering innovation and entrepreneurship.
Looking ahead, the future of the unicorn landscape appears promising. With emerging technologies such as AI, blockchain, and renewable energy gaining traction, the potential for new unicorns to emerge remains high. Investors are likely to continue supporting innovative startups that address pressing societal challenges and capitalize on evolving consumer preferences.
In conclusion, the Crunchbase Unicorn Board’s achievement of surpassing 1,600 unicorns in July 2025 marks a significant milestone in the startup ecosystem. The addition of 13 new unicorns across diverse sectors, coupled with five notable exits, underscores the vibrancy and resilience of the global innovation landscape. As we move forward, the continued growth of unicorns will play a crucial role in shaping the future of industries and driving economic progress worldwide.