Unicorns in Digital Food&Beverage

Since 2022 the startup sector has struggled to find funding, we can see this by going to look up the unicorns of the past few months, particularly those in May. As a reminder, a unicorn is a startup that is valued at an amount greater than $1 billion.

Few exits in startups in 2023

In May 2023 there were ten unicorn startups, not all in Silicon Valley. To put the unicorn phenomenon in context, 2021 was the boom year, from 2020 to April 2021 there were 35 to 50 unicorns each month, in May 2022 there were 34.

However, the situation is completely different than in 2021, once again we blame international conditions but this time it is really the case. The most active investor, Tiger Global, is trying to sell its holdings but a little bit all investors continue to downsize the values of their portfolios.

There is some variety in startups, gone is the era of exclusively tech startups and 2020 and 2021 delivery startups, May’s 10 unicorns come from nine different sectors and AI tops the list with two companies. Other sectors with a new unicorn were energy, biotechnology, robotics, and transportation.
Five of the new unicorns are based in the United States and two in China. Canada, Indonesia and Japan each counted a new unicorn last month.