India’s technology capital Bengaluru is home to five of the eight unicorns from India namely Flipkart, Ola, InMobi, Quikr and MuSigma mainly due to the advanced IT services in the city. Three of the other unicorns Snapdeal, Zomato and Paytm are based in New Delhi. The term 'Unicorn' is used for startups valued at $1 billion or more.