For long, Indian start-ups have been the subject of lively conversations owing to skyrocketing valuations and an abundance of capital. However, they are now experiencing rough weather. Layoffs, markdowns and, in some cases, suspension of operations have been the consistent story over the past few weeks. Contrast this to 2021, when a record number of 45 unicorns were created with a combined valuation of over USD 93 billion. In 2022, this number is down to less than half. The downward trend continues into 2023, with even lower levels of fundraising seen in Q1.This podcast, which is based on IMA India's in-house research, looks into the funding trends of start-ups, the changing nature of the valuation game and the way forward. 

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