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    Startups’ Financial Losses Put an End to Unicorns’ Celebrations

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    Indian startups are facing financial challenges, with many recording operating losses in FY22. At least 55 out of 74 unicorns suffered a total loss of $5.9 billion. The e-commerce sector witnessed the highest number of loss-making unicorns (14), followed by fintech (13) and consumer services (6). Edtech major BYJU’s reported a net loss of over Rs 4,588 crore in FY21 but registered nearly Rs 9,991 crore in revenues in FY22. The majority of leading Indian edtech startups have been losing money for months. Some of these loss-making unicorns plan to launch their IPOs soon, but it may be difficult to raise funds as their income is declining.

    In Q1 of 2023, Indian startups raised $2.8 billion, a 75% decrease from the same period in the previous year ($11.9 billion) due to rising inflation and interest rates affecting investments. No new unicorns were created in the January-March period, compared with 14 unicorns in Q1 2022. Late-stage funding decreased by 79% in Q1 ($1.8 billion) compared to Q1 2022, with early-stage funding dropping by 4% compared to Q4 2022 and 68% compared to Q1 2022. Top Indian startups/unicorns’ FY23 results are anticipated to reveal their financial performance.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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