Why startup valuations are tumbling
- Several Indian startups, including Byju’s, Ola, Swiggy and Oyo, have had their valuations slashed in recent months. Why is that, and will they recover anytime soon?
Startup funding, which tends to alternate between periods of feast and famine, is firmly in famine territory at the moment. In 2021, a new Indian unicorn was being minted almost every week. There was plenty of funding available for any startup with a seemingly coherent business plan and competent founders.