![]() ![]() 3 startups went public, Mamearth, Zaggle and ideaForge. We went back about 7 years, not 5 that we had expected. But it collapsed so badly, it could barely cross 2016. 2023 was lower than the now highs of 2022. Funding fell ~75%, a collapse not seen in the country’s history. It has been a tough year (10/10)įunding will be higher than 2019 but lower than 2022, with less than five tech IPOs: 2023 was a crash for the Indian ecosystem of unheard proportions. Gupshup has also lost its unicorn status. As capital has become expensive, investors have doubled down on reevaluating their portfolios and many from the list have seen massive (50-75%) devaluations. Many others have privately been repriced. (9/10)įive or more unicorns will be repriced: 7 unicorns faced public valuation markdowns this year, including BYJU’s, Swiggy, PharmEasy, PineLabs, OLA, Eruditus, and GupShup. It is the “risk-free” sector in the risky business of investing. SaaS will be the all weather sector, which sees consistent growth. India SaaS will be among the top 2 funded sectors, with the lowest mortality rates: After finishing second* after Fintech despite seeing only about $1.56Bn in funding in 2023 (down by 78% compared to 2022), India SaaS remains an investor favourite. Like a judge giving a verdict on a personal case, here we are scoring ourselves ![]() With travel and normalcy coming back, it feels like more than a year passed since we did our last predictions. This is just the first year where we have officially been pandemic free. Then there was that confusing World Cup we want to forget. Indian equity markets rallied like there was no tomorrow. As interest rates rose this year, assets got pulverised everywhere.Ĭrypto saw its two big stars fall as swiftly as they rose. A pandemic was followed by a war and another war this year. The 2020s decade has been crazy since it began. ![]()
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