The latest data from Chinese research firm ITjuzi revealed that 336 start-up companies in the country, that collectively had raised $2.5 billion, ceased operations last year. Among them were several unicorn companies, each valued over $1 billion.
With China’s slowing economy and investors exercising more caution, tech companies in the country started to feel the chilling effect of a funding shortage, which mostly surfaced during the second half of last year.
