At least 12 Indian startups, including Unacademy, have lost their unicorn status as valuations dropped below $1 billion. Others on the list include Byju's, PharmEasy, Snapdeal, Quikr, Paytm Mall, Hike, ShopClues, Rivigo, Droom, DealShare, and MyGlamm. Investors are now prioritising sustainable growth, stronger unit economics and profitability over aggressive expansion.