Is the startup wave ending? Byju’s is not only ‘destroyed’, only 67 unicorns are left. India Start Up Trend

Byju’s valuation decreased the most

BYJU’S was once the brightest star of India’s startup sector, but now it seems that not only BYJU’S but the entire startup sector of the country is losing its shine. Many startup companies are dying one after the other in India. There are many reasons behind this like lack of capital, tension between founders and investors, layoffs etc. That is why now only 67 unicorns are left in the country, whose number was more than 100 at one time.

Companies with a valuation of more than one billion dollars are called ‘unicorns’. Hurun, an organization that compiles the list of the world’s richest people, also publishes a Global Unicorn Index 2024. According to this, only 67 unicorns will be created in India in 2023, which is less than 68 last year. However, it is a matter of relief that India is still the third largest startup ecosystem hub after America and China.

Byjus’ valuation fell the most in the world

India’s largest startup company Byju’s is not only facing cash crunch at this time. In fact, there has been tension between its founders and investors for a long time. At the same time, its tuition centers and regional offices are also being closed one after the other. Layoffs have also been unlimited and the net worth of the company’s founder Byju Raveendran has come down to almost zero.

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Edtech company Byju’s has now lost its unicorn status. A year ago, the valuation of Byju’s was more than 22 billion dollars, but now its valuation has fallen so much that now it is less than one billion dollars. Hurun’s report says that this huge decline in the valuation of Byju’s has made it the firm with the biggest decline compared to any startup in the world.

Commenting on Byju’s, Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said that some startups actually fail. During this time they also attract massive media attention. Although such companies are important for the economy.

These are India’s top unicorns

According to Hurun’s report, food delivery company Swiggy and fantasy gaming firm Dream11 are India’s most valuable unicorns. Their value is eight billion dollars each. After these comes Razorpay whose value is 7.5 billion dollars. At the global level, Swiggy is at 83rd place while Razorpay is at 94th place.

Anas Rehman Junaid, chief researcher, Hurun India, said the overall decline in the number of Indian companies in the list of 1,453 unicorns reflects the lack of investment in the startup segment despite good gains in the stock market.

The trend of starting a company abroad has increased among Indian co-founders. Indian founders started 109 unicorns outside the country, while their number within the country was 67.

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Brijesh Pratap
Brijesh Pratap

Hi, I am Brijesh Pratap, a content creator and WordPress website designer, I have been in content writing for more than 3 years. I specialize in creating engaging articles. As a WordPress expert, I design websites for businesses and bloggers, aiming for both visual appeal and impactful content. Join me on this journey of creative exploration and effective online solutions.

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