News on Medial

91 of India's 117 Unicorns Genuinely Maintain Valuations Above $1 billion​, says Blume Report

OutlookIndia · 2m

Of India's 117 unicorns, 91 maintain valuations above $1 billion, despite challenges in sustaining these valuations long-term, according to a Blume Ventures report. India's unicorn creation significantly fell from 44 in 2021 to 2 in 2023, amid a funding winter that saw overall startup funding drop from $42 billion in 2021 to $16 billion in 2023. This downturn also led to the closure of over 35,000 startups in 2023.