The Indian EV space is the third-largest in terms of the number of companies, next to the US and China and in terms of funding, the Indian EV space is the fourth-highest after the US, China and Sweden, Tracxn said in its report
The survey which was released on Tuesday morning said that start-ups have been found to be “flipping” which refers to Indian companies setting up headquarters in overseas locations where ease of doing business is higher.
Zerodha’s founder Nithin Kamath, in a recent podcast, said they do not hire people who have passed out from colleges, including the IITs and IIMs, as he feels it is very tough to fit such people in its organisation.
“If you want to move to India as a domicile, we have to do a fresh market valuation and pay tax on the delta. Our investors have paid almost Rs 8000 crores in taxes just to allow us to come back to India,” Sameer Nigam, Co-founder and CEO, PhonePe said at a live YouTube session
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.
Pune-based Ecozen has secured $25 million in a fresh funding round led by Nuveen, the Chicago-headquartered asset manager owned by US pension fund TIAA and Dare Ventures, the venture capital arm of Coromandel International