Some of the biggest Indian startups are taking a haircut in their valuations as their backers adjust their estimates amid the weakening global economy.
BlackRock has cut the valuation of Byju’s, which is India’s most valuable startup at $22 billion, to nearly half at $11.5 billion, according to filings seen by TechCrunch. Indian news outlet The Arc first reported about the valuation cut.
Swiggy, India’s most valuable food delivery startup at $10.7 billion, has been marked down to a valuation of about $8 billion by Invesco, according to disclosures by the U.S. fund seen by TechCrunch.
More to follow.
toptechtrends.com/2023/03/31/us-investors-slash-byjus-and-swiggy-valuation/”>US investors slash Byju’s and Swiggy valuation by toptechtrends.com/author/manish-singh/”>Manish Singh originally published on toptechtrends.com/”>TechCrunch
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