With the number of start-ups reaching the unicorn level falling drastically in 2023, the Hurun Unicorn Index said it has demoted eight gazelles - start-ups that were founded in 2000 and have the potential to go to unicorn in three years - to cheetahs.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
'If Threads doesn't become a distinct identity, and just a text version in the shadows of Instagram, then it may fizzle out.'
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
Two sectors, fintech and media & entertainment, attracted 45 per cent of total funding by value, led by large ticket deals such as CRED and Dailyhunt.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
'Today, we have 150,000 orders a month. And a monthly sale of Rs 1 crore.'
