The past few months have compelled Indian unicorns to hit refresh. From chasing growth at all costs, they are focused today on becoming profitable. Gaurav Munjal recently gave a glimpse into how this transition has happened
Sharing his views on this trend which has been in discussion for sometime now, Dr Aravind Chinchure, CEO of Deshpande Startups believes that this is a result of economic situations across the globe and a shift in the perspective of the investors.
Startups in India raised just $2 billion in the first quarter of 2023, 75% lower than the same period of last year, and the smallest quarterly number in nearly three years, figures from data firm CB Insights showed.
India Quotient boss Anand Lunia warns the startup ecosystem of ‘zombie unicorns’ as the funding slowdown deepens and companies find it even harder to extend their runway. Startups need to now benchmark themselves differently, he says.
Sharing his thoughts on philanthropy, Kamath told Business Today that he was not vocal about it all these years but feels the need to speak up so that more people can join in and help make a difference.
The industry veteran took to Twitter on Sunday to encourage Indian start-ups to domicile in India. He also said that the government should focus on increasing the ease of doing business in the country.