Indian startups birthed only 2 unicorns in 2023, a stark drop from 21 in 2022 and 45 in 2021. Restoring investor faith is critical in 2024. With 113 unicorns valued at $350B+, many struggle to justify their worth. Startups seeking funds must prioritize solid fundamentals. Transparency, governance, and culture are pivotal. Only these can sway investors.