Top Unicorn Startups in Shanghai for 2025

In Shanghai, we rank 35 unicorn startups based on an algorithm that considers factors such as total investment, quarterly employee count, and website traffic. Unicorns in Shanghai are falling behind the performance of their global counterparts.

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Top Unicorn Startups in Shanghai for 2025

SB Score:862

Xiaohongshu (Little Red Book) is a popular social media and e-commerce platform in China that combines lifestyle content with user reviews and shopping. It offers a unique blend of shopping inspiration and community-driven recommendations for users.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

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SB Score:742

Ximalaya FM is a leading Chinese podcast platform valued at $3.5B. Despite intense competition, the company has carved out a successful niche in the industry. Engage with a variety of podcasts and content on this popular platform.

Industry:
Software & Data
Subindustry:
Apps

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Huaqin Telecom Technology ranks first in the smartphone and tablet ODM industry globally whose main business covers smartphones, tablets, notebooks, servers, and IoT products. Moreover, Huaqin is a Google ODM partner to provide a way for a brand company to build AndroidTM devices with Google Mobile Services which the Android team at Google certifies to ensure they are secure and ready to run apps from Google and Google Play Store. HQ focuses on the design, development, and production of phones, tablets, and other products, providing competitive products for their customers. Its products are exported to more than 100 countries and regions, covering Asia, Africa, Latin America, Europe, and other areas. By 2015, HQ accumulatively shipped more than 200 million mobile phones. The annual shipment of tablets reached more than 5 million units. And HQ can provide leading 4G products. HQ adheres to the concept of “Integrity, Diligence, Focus, Innovation” and dedicates to providing more advanced and competitive products to create a prosperous sustainable development future.

Industry:
Hardware & IoT
Subindustry:
Consumer Electronics

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Total amount:35

Best Software & Data Startups in Shanghai for 2025

Shanghai startups in the Software & Data industry are overperforming their global industry peers. The top three Software & Data unicorns in Shanghai have raised more than USD 1.37B, an amount that is higher than the global industry average.
SB Score:742

Ximalaya FM is a leading Chinese podcast platform valued at $3.5B. Despite intense competition, the company has carved out a successful niche in the industry. Engage with a variety of podcasts and content on this popular platform.

Industry:
Software & Data
Subindustry:
Apps

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SB Score:553

Chinac.com (华云数据) is a Chinese domestic cloud computing infrastructure operator. It is focused on the research, development, and operation of commercial cloud computing infrastructure, targeting the domestic and global clients to provide cloud computing-based IT solutions and outsourcing services. Chinac.com is also known as a SaaS-based provider, PaaS-based provider, traditional software development company, and system integrator. It is also the service provider of thousands of online games, e-commerce, mobile internet, online education, social networking sites, video interaction, and more. Chinac.com has tens of thousands of physical server clusters and 20 data centers in more than 15 cities. Its network covers China Telecom, China Unicom, and BGP Network.

Industry:
Software & Data
Subindustry:
Enterprise Technology

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SB Score:545

QingTing FM is an innovative radio aggregator offering a wide range of internet-based radio stations. Users can access diverse content with a simple click, making it easy to discover new shows and stay up to date on the latest news and entertainment.

Industry:
Software & Data
Subindustry:
Software

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Total amount:10

Most Valuable Unicorns in Shanghai for 2025

The top three most valuable unicorns in Shanghai have raised total funding of more than USD 11.4B. Among the top three funded unicorns, the most popular industry, based on total funding, is Hardware & IoT.
SB Score:862

Xiaohongshu (Little Red Book) is a popular social media and e-commerce platform in China that combines lifestyle content with user reviews and shopping. It offers a unique blend of shopping inspiration and community-driven recommendations for users.

Industry:
Ecommerce & Retail
Subindustry:
Ecommerce

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SB Score:434

ZongMu Technology was founded in January 2013. Headquartered in Pudong ZhangJiang high-tech park of Shanghai, ZongMu has RD centers in Beijing and ShenZhen respectively. Through its innovative solution and excellent service to the local market, ZongMu has shipped multiple SurroundView ADAS (Advanced Driving Assistance System) in main stream OEM automotive markets, becoming the leading SurroundView ADAS solution vendor for China domestic market and formed strategic partnership with multiple OEM car makers and their tier1 suppliers.

Industry:
Hardware & IoT
Subindustry:
Hardware

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United Imaging Healthcare specializes in cutting-edge medical imaging and radiotherapy equipment. Their innovative technology enhances diagnostic accuracy and treatment outcomes for healthcare providers worldwide.

Industry:
Healthtech
Subindustry:
Health Care

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SB Score:186

TransTech is a user-friendly online platform for bike-sharing. It offers a convenient way for users to access bicycles for short-term use. With a simple interface and easy booking process, TransTech makes it effortless for individuals to rent bikes for their transportation needs.

Industry:
Transportation
Subindustry:
Transportation-Other

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SB Score:641

Hozon Auto specializes in developing and producing new energy vehicles, offering charging solutions, after-sales support, and financial services. Their focus on NEVs ensures a sustainable and efficient transportation solution.

Industry:
Transportation
Subindustry:
Automotive

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SB Score:556

Biren Technology is a cutting-edge company specializing in chip and cloud computing. They are dedicated to creating a state-of-the-art general computing system, offering efficient software and hardware solutions, and delivering integrated intelligent computing services.

Industry:
Hardware & IoT
Subindustry:
Hardware & IoT-Other

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SB Score:531

They are pioneer of artificial intelligence research and innovation.YITU Technology integrates advanced AI technology business applications to build a safer, faster and healthier world. YITU maintains an outstanding R&D team to drive industrial development with advanced technologies. Rather than simply using technologies from large companies or laboratories for monetary gains, they are engaged in fundamental research of artificial intelligence aimed to find comprehensive solutions for machine vision, listening and understanding. They strive for breakthroughs in computer vision, natural language understanding, knowledge reasoning, intelligent hardware and robotics. Today YITU has an extensive presence in sectors such as security, finance, transportation and healthcare. They are curious about human wisdoms, and they expand the potential of AI. Side by side, They look forward to creating an intelligent future with you.

Industry:
Software & Data
Subindustry:
Apps

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Black Sesame Technologies develops cutting-edge AI solutions for practical imaging challenges, specializing in digital technology. Their innovative solutions address real-world problems with ease and precision.

Industry:
Software & Data
Subindustry:
Artificial Intelligence

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SB Score:663

Specializing in new energy vehicles, this company focuses on creating smart cars for the ultimate driving experience. Committed to research and development, manufacturing, and sales, they aim to revolutionize the automotive industry with innovative technology and sustainable solutions.

Industry:
Transportation
Subindustry:
Automotive

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10th

eDaili
SB Score:370

eDaili is a Chinese platform connecting consumers with international financial products. Discover and access overseas services with ease, all in one place.

Industry:
Fintech
Subindustry:
Financial Services

National Rank (China)

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Total amount:35

Top Hiring Unicorns in Shanghai by Employee Number

The top three hiring unicorns in Shanghai have an average employee size that is larger than to the global average. Among these, the Hardware & IoT industry features the unicorn with the largest workforce.

Huaqin Telecom Technology ranks first in the smartphone and tablet ODM industry globally whose main business covers smartphones, tablets, notebooks, servers, and IoT products. Moreover, Huaqin is a Google ODM partner to provide a way for a brand company to build AndroidTM devices with Google Mobile Services which the Android team at Google certifies to ensure they are secure and ready to run apps from Google and Google Play Store. HQ focuses on the design, development, and production of phones, tablets, and other products, providing competitive products for their customers. Its products are exported to more than 100 countries and regions, covering Asia, Africa, Latin America, Europe, and other areas. By 2015, HQ accumulatively shipped more than 200 million mobile phones. The annual shipment of tablets reached more than 5 million units. And HQ can provide leading 4G products. HQ adheres to the concept of “Integrity, Diligence, Focus, Innovation” and dedicates to providing more advanced and competitive products to create a prosperous sustainable development future.

Industry:
Hardware & IoT
Subindustry:
Consumer Electronics

National Rank (China)

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SB Score:620

Yimidida is a platform connecting users with local couriers for efficient and affordable deliveries. Get your items delivered quickly and securely through our crowd-sourced network. Join Yimidida today for seamless logistics solutions at your fingertips.

Industry:
Transportation
Subindustry:
Logistics

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SB Score:534

Carzone is an online store for car parts, specializing in aftermarket spare parts. Find everything you need to upgrade or repair your vehicle with ease.

Industry:
Ecommerce & Retail
Subindustry:
Marketplaces

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SB Score:487

Yiguo is an online marketplace offering a wide selection of fresh produce. Users can conveniently purchase fruits and vegetables on the platform.

Industry:
Transportation
Subindustry:
Logistics

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Total amount:35

Explore the Startup Ecosystem of Shanghai

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Quality ScoreBusiness Score
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109.406
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7th
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73.512
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