A fresh Moneycontrol analysis, citing Venture Intelligence data, has found that at least 12 Indian startups that once carried the coveted $1 billion tag no longer do. It crossed the unicorn mark in 2016 after a $100 million round led by Tiger Global. It worked well enough to earn unicorn status in 2021 at a $1.2 billion valuation, and founder Darpan Sanghvi talked openly about a $10 billion IPO. Byju’sNo startup captures the scale of India’s unicorn reset quite like Byju’s. DealShare is now a much smaller company than the one that raised money at unicorn valuations barely two years ago.