AI founders surge 4x; young entrepreneurs' companies valued at ₹48 lakh cr

The number of artificial intelligence (AI) and machine learning founders featured on the Avendus Wealth–Hurun India U35 List rose fourfold in 2026, even as the combined valuation of companies represented on the list increased 23% year-on-year to ₹48 lakh crore, highlighting the growing scale and technological diversity of businesses led by young entrepreneurs.

The 2026 edition features 180 entrepreneurs aged 35 and below, up 16% from 155 in the previous year. AI and machine learning representation increased from three founders in 2025 to 12 this year, while 21 founders on the list operate across deep-tech and hard-tech segments, including AI and machine learning, SpaceTech, aerospace and defence, and cybersecurity.

The list includes Aravind Srinivas, 32, of Perplexity and Ashwin Sreenivas, 31, of Decagon AI. Among the debutants are Mayank Bhola, 34, of TestMu AI and three co-founders of Flam, according to the report.

The combined valuation of ₹48 lakh crore refers to the companies represented on the list and not the personal wealth of the entrepreneurs. The cohort’s businesses employ more than 5.88 lakh people, while 37 companies represented are valued at more than $1 billion, the report said.

AI founders rise fourfold as U35 companies’ valuation jumps 23% to ₹48 lakh crore

“AI and machine-learning entrants have risen fourfold, alongside founders building in space, defence and manufacturing. This points to an ambition to own technology and products, serve international markets and capture more of the value they create,” said Anas Rahman Junaid, founder and chief researcher at Hurun India.

Software and fintech continue to lead

Despite the increase in AI representation, software products and services remains the largest industry category on the list, with 18 entrepreneurs. Fintech follows with 17, while education and edtech account for 15.

AI and machine learning ranks fourth, with 12 founders, up from three in the previous edition. Media and entertainment has 10 entrants, while healthcare and food and beverages have nine each.

Clean energy and renewables also feature among the sectors represented, with seven founders on the list. These include Chirag Nakrani, 33, and Hardik Kothiya, 32, co-founders of Rayzon Solar, as well as Neelesh Garg, 34, and Manik Garg, 31, co-founders of Saatvik Green Energy.

The findings suggest that young business leaders are represented across both established digital sectors and technology-intensive areas such as AI, space and defence. However, the report does not attribute the overall increase in company valuations specifically to AI or deep-tech businesses.

First-generation entrepreneurs account for 71%

First-generation entrepreneurs account for 71% of the 180 leaders featured on the list, while the remaining 29% represent family businesses across generations. Second-generation leaders make up 16% of the cohort, third-generation leaders 9%, and fourth-generation or later leaders 4%.

The average age of entrepreneurs on the list is 33, one year lower than in 2025. The list also features 23 women, accounting for 12.8% of the cohort, compared with 9.7% in the previous edition.

“The composition is equally revealing. First-generation founders account for 71% of the cohort, while 53 next-generation leaders are renewing established businesses. India’s entrepreneurial capacity is expanding through both new enterprise creation and the transformation of family businesses,” Junaid said.

The Avendus Wealth–Hurun India U35 List is part of the Uth Series 2026, which recognises entrepreneurs and business leaders across the Under 30, Under 35 and Under 40 categories.

Here are the key highlights:

– The List features 180 entrepreneurs, up 16% from 155 in 2025.
– The cumulative valuation of companies represented in the List stands at INR 48 lakh cr, up 23% YoY.
– 33 is the average age of founders on this year’s U35 List, one year younger than in the 2025 edition.
– First-generation entrepreneurs account for 71% of the cohort, followed by second-generation leaders at 16%, third-generation at 9% and fourth-generation or later at 4%.
– AI & ML representation increased fourfold, from 3 to 12. The cohort includes Aravind Srinivas (32) of Perplexity and Ashwin Sreenivas (31) of Decagon AI, alongside 2026 debutants Mayank Bhola (34) of TestMu AI and three Co-founders of Flam.
– DeepTech and HardTech account for 21 founders, about 1 for every 9 in the List – AI & ML (12), SpaceTech (4), Aerospace & Defence (3) and Cybersecurity (2).
– Clean Energy & Renewables has 7 founders on the List, including Chirag Nakrani (33) and Hardik Kothiya (32), Co-founders of Rayzon Solar, and Neelesh Garg (34) and Manik Garg (31), Co-founders of Saatvik Green Energy.
– Anmol Bhansali (31), Managing Director of Goldiam International, is the youngest leader on the List.
– Romita Mazumdar (31), founder of Foxtale, is the youngest woman on the list.
– 23 women feature on the 2026 List (12.8% of the cohort), up from 9.7% in 2025, representing a 53% rise in women’s representation.
– Ayush Sinhal (35), co-founder of Kimbal, with 15 years of entrepreneurial experience, is the most seasoned founder on the U35 List.
– Wint Wealth, co-founded by Abhik Patel (35), Ajinkya Kulkarni (35), Anshul Gupta (35) and Shashank Chimaladari (35), is the most investor-backed U35 startup with 52 investors, followed by Perplexity (48) and Jar (45).
– Among undergraduate institutions, IIT Delhi leads with 11 alumni, followed by IIT Kharagpur with 10 and IIT Madras and the University of Delhi with 7 each.
– IIT Madras and the Indian School of Business top the postgraduate rankings with 5 alumni each, followed by IIT Bombay with 4.
– Software Products & Services is the most represented industry, with 18 entrepreneurs, FinTech with 17 stands in second place, while Education & EdTech are in third place with 15.
– In terms of digital reach, Ritesh Agarwal of PRISM (OYO) tops the list with 14.97 lakh LinkedIn followers, followed by Aravind Srinivas (32) with 9.08 lakh.
– 11 entrants are from non-metro cities, such as Surat, Indore, Chhatrapati Sambhajinagar, Nashik and Mohali.
– The U35 cohort employs over 5.88 lakh people. Reliance Retail Ventures is the U35 cohort’s largest employer with 2,47,782 employees. The top 5 employers together account for over 72% of the cohort’s total workforce.
– Listed companies account for 40 U35-led businesses, the largest group by funding stage, followed by Series B with 23 companies.
– U35-led companies are deploying capital towards growth, with 27% allocated to Product Development & Expansion and 23% to Market & Geographic Expansion.