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Unicorns staring at fund woes, drop in valuation amid Covid-19 outbreak

Curbs on investment by Chinese investors a major roadblock

Startups | Coronavirus | Chinese investors

Peerzada Abrar & Neha Alawadhi  |  Bengaluru & New Delhi 

swiggy, startups, food delivery, delivery, gig workers, jobs, staff
India's recent changes in FDI policy would have a huge impact on the businesses of unicorns, resulting in salary freeze, layoffs, pay cuts and a drastic reduction in their valuations.

Amid the Covid pandemic, India’s start-up unicorns such as Oyo, Zomato, Ola and Swiggy are likely to face delay or find it challenging to raise follow-up funding from global investors, especially the Chinese ones, owing to the government’s restriction.



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First Published: Wed, April 29 2020. 22:15 IST