
Zepto becomes India's first unicorn of 2023; raises $200 mn at $1.4 bn valuation
Zepto aims to turn EBITDA (earnings before interest tax, depreciation and amortization) positive in the next 12 to 15 months.
Zepto aims to turn EBITDA (earnings before interest tax, depreciation and amortization) positive in the next 12 to 15 months.
"From 108 unicorns I am sure we will reach 10,000 in the next 4-5 years," says Rajeev Chandrasekhar.
The startup funding also witnessed a significant drop of 24% as compared to the $7.3 billion funds raised in H2 of 2022
While founders will be blamed, the venture capital (VC) ecosystem is equally to blame, says Zerodha founder
The overall figure of unicorns reduced to 83 from 84
Every time there's a bubble, right now it is AI, it's, usually, a graveyard along the way as a lot of companies will not make it, says Deshpande.
NestAway, which has raised $110 million in funding, was valued at $220 million in 2019.
Blackrock, which manages over $10 trillion in assets, had first entered Byju's roster of marquee investors at a $12-billion valuation in 2020.
The Indian start-up ecosystem is now the third-largest in the world, thanks to the rise of digital technologies and growth in the number of young entrepreneurs.
As per the report, the late-stage funding accounted for the increase in funding raised with $688M being raised in total in January 2023, an increase of 16% as compared to December 2022.