Unicorns feel funding winter chill, see fall in numbers: Hurun global index

The valuation firms like Quikr, Paytm Mall, have dropped below $1 billion. Shopclues and Blinkit were acquired for a fraction of their billion-dollar valuation

The drying up of funds for a number of start-ups is affecting the firms’ unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022.

81 unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn- from last year. Of these, 36 where from the US and 35 from China.

Though India has not seen many unicorns drop off the list in the past