Future Unicorns Face Funding Winter: 25 Startups Drop Out

A report reveals a record drop in the number of future unicorns, with 25 startups falling off the list due to funding challenges, regulatory actions, and a shift toward profitability. The number of unicorns in India has dropped from 68 to 67, highlighting the impact of the ongoing funding winter.

A record drop in future unicorns was reported, with 25 startups slipping off the radar due to a funding winter, regulatory actions, and a bias towards profitability. The number of unicorns in India fell from 68 to 67, according to ASK Private Wealth Hurun Indian Future Unicorn Index.

The report notes that five companies valued at over USD 500 million, likely to become unicorns in three years (gazelles), and 20 entities valued at USD 200 million expected to transform into unicorns in five years (cheetahs) were among the dropouts.

Bengaluru remains the future unicorn capital with 46 companies, followed by Delhi-NCR with 29 and Mumbai with 19. Notably, 35 future unicorns have overseas headquarters, predominantly in the US.

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