When viewed through this lens, this year’s Republic Day is a pivotal moment for Indian startups, after the initial years of ‘freedom’. Amid an unprecedented slowdown, we could even say that perhaps Indian startups adopt a few tenets of their own for 2023 and beyond. With this, on India’s 74th Republic Day we bring you these 10 commandments for startups to navigate the downturn and funding winter in 2023 and emerge stronger. Early-stage startups need to balance out the build vs buy equation and learn from the mistakes that some larger companies have made. “In this volatile market, startups need to make their policies flexible in order to stay up to date and ensure that they are aligned with current laws and regulations.
The funding raised in the Q3 of 2022 was 82% lower than the historical $17.1 Bn raised in Q3 of 2021 by Indian startups. Getting Valuations RightEarlier, venture capitalists and corporate venture capitalists (CVCs) had the fear of missing out on the next big startup. Today’s venture capitalists are rethinking their funding methods, and young startups must consider this mindset change. Despite the slowing pace of investments, reports indicate that investments are still being made by venture capitalists and CVCs. The post-pandemic recovery presents young startups with a unique growth opportunity.3 months ago Inc42
Compared to edtech, healthtech, fintech, consumer internet, and media and entertainment, which registered a 40-45% YoY fall in funding, the ecommerce sector was down 65% YoY in 2022. As a result, the ecommerce sector registered a 65% year-on-year (YoY) fall in funding and could only raise only $4.01 Bn in 2022. Interestingly, seed funding rose 1.5X in 2022 – from $169.46 Mn in 2021 to $256.33 Mn last year – representing a reinforced stress on early-stage ecommerce startups from investors. Since the beginning of 2022, as many as 10 ecommerce startups have laid off a total of 2,606 employees, according to Inc42 Layoff Tracker. Ecommerce startups had a strong 2022 from a sales point of view, especially during the festive season.14 days ago Inc42
With this, TBH’s entire team will join GCL and continue to develop a portfolio of healthy snacking food. The acquisition will help GCL to expand its product offerings by adding low-calorie snacks to existing food products. Founded in 2017 by IIT and IIM graduates Mayank Gupta, Ritika Agrawal and Anuj Ghanghoria, TBH sells vegetable and fruit-based snacks across India. I believe that their domain expertise and infrastructure will help us in expanding to newer markets and increasing our unique product portfolio,” said Mayank Gupta, founder of TBH. Our goal is for the consumer to utilize at least one product from GCL throughout the day,” said Shrenik Ghodawat, managing director of GCL.28 days ago Inc42
It is still about grabbing big bucks from people by luring them to invest in fake crypto schemes that promise the stars. “Ours was a small company where 400-500 people were held captive and forced into crypto scams and online betting-related work. In its short but chequered history of crypto scams, India has witnessed quite a few shockers. Crypto Scams Meet Human TraffickingCrypto scams have been around in some form or the other in Southeast Asia and South Asia for many years. So far, over 150 people are believed to have been rescued in a similar fashion from crypto scam operators in Myanmar, Cambodia and Laos.3 months ago Inc42
The layoffs have affected the sales and marketing teams at the company. The crypto exchange sent an email to the impacted employees underlining the contours of the severance package, the source said. Due to the restructuring exercise, no new projects have been assigned to the marketing and sales teams, the source added. Meanwhile, Moneycontrol reported that the cryptocurrency exchange sacked 80-100 employees across marketing, branding, and activation teams in a restructuring exercise that took place last month. Besides, homegrown crypto exchanges, including CoinDCX, have also come under scrutiny for alleged violations of law.28 days ago Inc42