On August 23rd, the Hurun Research Institute released the Hurun China Cheetahs 2022 Half-Year Report, a list of startups set up after the year 2000 that are most likely to ‘go unicorn’ within five years. Cheetahs normally have a valuation of more than US$300mn. Innorna was selected as one of the Hurun China Cheetah enterprises.
Since Innorna inception, the company has successfully raised several rounds of financing and received recognition from outstanding capitals such as CDH, HHF, E Fund, Blue Ocean, CPE and Fangyuan Capital.
The list is based on the data collected by Hurun Research Institute from nearly 1,500 unlisted companies in emerging industries, from which 241 high-growth "cheetah companies" in China were selected, mainly in the biotechnology, health technology, corporate services and e-commerce industries. The cut-off date used was 30 June 2022.
Hurun Report Chairman and Chief Researcher Rupert Hoogewerf said: “Despite Covid outbreaks across the country in the first half of this year, the total number of ‘Cheetah Companies' in China increased by 10% to 241. Local governments are making it very attractive for well-regarded founder teams to set up with them, in the knowledge that the next ‘Big One’ is almost certainly going to come from a startup today. 21 of the China Cheetahs from last year have been promoted: 3 directly to Unicorn status and 18 to Gazelle status, showing how fast these companies are growing.”