Hmmm... so funding has started picking up again but many established unicorns are laying off at the same time.  
 2024 will be interesting !

Software Engineer

This is one of the wierdest funding news I have seen. Of $60mn, as per entracker $36.7mn came from InCred Wealth and $5.3mn from InCred special opportunities fund. honestly, dont know if it passes the smell test.

https://entrackr.com/2023/12/exclusive-incred-turns-unicorn-after-raising-60-mn/

Founder

So Zepto was the first, InCred becomes the second one. 2 unicorns this entire year 🙀

InCred becomes 2nd unicorn of 2023 after raising $60 Mn in a new round. At $1.03 Bn valuation.

InCred becomes 2nd unicorn of 2023 after raising $60 Mn in a new round. At $1.03 Bn valuation.- Grapevine

Welcome to News Discussion's Private Community

The timing of Zeptos fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the correction being witnessed in the quick commerce segment on the other.

Unicorn drought ends as Zepto raises $200 million at $1.4 billion valuation

Zepto becomes India's 1st 2023 unicorn

Welcome to Indian Startups's Private Community

Despite the funding winter environment, higher management woes and business model doubts they raised a colossal $200mn. Any inside beans to spill here?

Zepto becomes a unicorn

Business Development Manager

I had heard Waycool was also talking to raise at unicorn valuation, but they've fired like 300 people on Monday, so that's pretty uncertain. What to make of Zepto, though?

India's 109th unicorn?

Data scientist

Krutrim has become a unicorn after securing $50m in funding, making it the first Indian AI startup with a valuation of $1bn. It seems like an extremely overvalued company being built yet again. Thoughts?

India's 1st Unicorn in 2024

Program Manager

- Ather Energy, an electric two-wheeler manufacturer, secured $71 Mn (INR 600 Cr) from National Investment and Infrastructure Fund (NIIF), valuing the company at $1.3 Bn post-money.
- NIIF was an investor in Ather's Series E round, which raised $128 Mn alongside Hero MotoCorp and others.
- Ather Energy is planning a public listing by the end of 2024, targeting a valuation of around $2 Bn.
- The company reported a net loss increase of 22.5% to INR 1,059.7 Cr in FY24, while revenue from operations slightly rose to INR 1,789.10 Cr.
- Ather joins India's unicorn club, following recent entries like Krutim AI, Perfios, and Rapido. 

 Source: [Inc42](https://inc42.com/buzz/ather-energy-joins-unicorn-league-by-raising-71-mn-funding-from-niif/)

Ather Energy Joins Unicorn League with $71 Mn Funding from NIIF

Journalist

Sad state of Indian Edtech. Next would be Unacademy.

BlackRock has yet again cut the value of its holding in Byju's, slashing the implied valuation of the Indian startup to $1 billion from $22 billion in BlackRock has cut the value of its holding in Byju's, slashing the implied valuation of the Indian startup to $1 billion from $22 billion in early 2022.

BlackRock cuts Byju's valuation by 95% to $1 billion | TechCrunch

Just in : BlackRock cuts Byju’s valuation by 95% to $1 billion 🌀

I think in this bear market, to be able to raise like this, says something about how much investors believe in them & the model
https://thearcweb.com/article/zepto-quick-commerce-aadit-palicha-blinkit-swiggy-flipkart-if07YMNjRHiOjmFA

Zepto going from $1B to $3B valuation in just 8-9 months after last announcement.

Product Manager

Fastest unicorns in India

Analyst

https://www.moneycontrol.com/news/technology/bhavish-aggarwals-ai-startup-krutrim-turns-unicorn-after-raising-50-million-12129991.html

2024 first unicorn

Product Owner

- Raise Financial Services, the parent company of trading app Dhan, is in early discussions to raise $100 million, potentially boosting its valuation to $1.5 billion and entering the unicorn club.
- Investment banking firm Avendus has been shortlisted to manage the fundraising, with new and existing investors expected to participate.
- The fresh funds will be used for business expansion, including new services like financing, payments, and insurance, to compete with rivals such as Groww, Zerodha, and Upstox.
- Dhan's founder, Pravin Jadhav, previously led Paytm Money but left on contentious terms; he has since taken jabs at his former employer on social media.
- Despite a competitive market, Dhan has seen significant growth, with a 330% year-over-year increase in its active client base, while competitors like Paytm Money have struggled. 

 Source: Moneycontrol

InCred becomes 2nd unicorn of 2023 after raising $60 Mn in a new round. At $1.03 Bn valuation.

Discover More

News Discussion on

by qwerty_

Zepto

Zepto becomes India's 1st 2023 unicorn

Indian Startups on

by DietWasabi

Stealth

Zepto becomes a unicorn

Indian Startups on

by fuyuko

Stealth

India's 109th unicorn?

Indian Startups on

by DingDong

Razorpay

India's 1st Unicorn in 2024

News Discussion on

by NewsAnchor

Grapevine

Ather Energy Joins Unicorn League with $71 Mn Funding from NIIF

Indian Startups on

by DingDong

Razorpay

Just in : BlackRock cuts Byju’s valuation by 95% to $1 billion 🌀

News Discussion on

by StarkWild

Jupiter

Zepto going from $1B to $3B valuation in just 8-9 months after last announcement.

Indian Startups on

by SentinelPrime

Cisco

Fastest unicorns in India

Indian Startups on

by Dindin

City Mall

2024 first unicorn

News Discussion on

by NewsAnchor

Grapevine

Unicorn Alert: Dhan in Talks to Raise $100 Million at $1.5 Billion Valuation