ET Prime Unicorn 100: Are Indian startups finally growing up?

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ET Prime Unicorn 100: Are Indian startups finally growing up?

Synopsis

Amid a punishing funding slowdown, unicorn startups cut their flab and build new muscles. Their FY23 financials show that, on the whole, they reduced losses while growing in size. A quarter of them delivered profits — that is a 54% rise in the number of profitable unicorns compared to the previous year.

Here’s ET Prime Unicorn 100, the definitive list of India’s strongest startups. In the second edition of the list, one thing becomes clear. Amidst a long funding winter, Indian unicorns have improved their financials. That too by a significant margin. The numbers for FY23, the latest year for which financials are available, show that a substantially large number of unicorns have turned profitable while almost all have shown growth in their top

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