Synopsis
Unlike the previous year, there is only a marginal uptick in the number of profitable unicorns. There is a sharper reduction in losses. But, overall, unicorn financials reveal deceleration of growth and decline among a sizeable section of them.
India’s leading startups are cutting losses even at the cost of growth, as late-stage private capital funding continues to be moderate. The long dry spell in the late-stage funding means shortening of the runway for many loss-making unicorns. That has forced them to bring down losses. Although venture capital funding increased from USD9.6 billion in 2023 to USD13.7 billion in 2024, much of the funding activity is concentrated in the early and
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