Dear Reader,
If you are reading this, there is a good chance that you follow startups closely and you would agree that a majority of the news about startups is related to funding announcements. Indian startup ecosystem is peculiar that way, we hear more about investments than exits. While the ecosystem has expanded by a magnitude in the past decade (55K startups launched till date), multi-billion dollar startup exits are a rare sight — highest being Flipkart’s $16 Bn.
There are about 35 startup unicorns in India and just a handful of them are chasing IPOs. What’s more pressing is that for many, the losses still run in millions of dollars. Out of the 30 major unicorns in India, only nine are EBITDA positive. These include ReNew Power, Zoho, Info Edge, Mu Sigma, BillDesk, BYJU’S, Freshworks, Icertis, and Druva.
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