Katya Naidu27 Jun 2023, 18:50
The ASK Private Wealth Hurun India Future Unicorn Index 2023 shows a decline in India's startup ecosystem due to factors such as rising interest rates and global uncertainties. The cumulative valuation of gazelles, which are expected to become unicorns in three years, experienced a year-on-year decrease of 1%, amounting to $30.8 billion, with eight gazettes demoted to cheetahs and 19 companies dropped out of the index. Meanwhile, the cumulative valuation of cheetahs, expected to become unicorns in five years, experienced a remarkable year-on-year increase of 47%, amounting to $26.3 billion.