Indian unicorns cut jobs, close units to conserve scarce capital

Meltdown in public markets as free-money era ends and thrift takes over

20220523 Vedantu and Swiggy

Indian startups will find it harder to raise new capital as investors turn cautious amid the meltdown in public markets. (Source photo by Vedantu YouTube and Getty Images)

SAYAN CHAKRABORTY, Nikkei staff writer

BENGALURU -- India's biggest startups are turning thrifty amid a new reality in which capital has become hard to come by.

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