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
Fintech start-ups in India raised a $5.65 billion last year. Despite the funding slowdown of 2022, and fewer $100-million+ rounds, the sector remained the second-most attractive for investors, according to Tracxn
Amidst the funding winter, GetVantage, a revenue-based financing platform along with early-stage investing platform Inflection Point Ventures is eyeing investing in around 40 businesses on an average every month
Hyderabad-based incubator T-hub, which has scaled 2,000+ start-ups, thinks sectors like SaaS, foodtech, and edtech could see a slowdown in 2023, while emerging sectors like EVs, spacetech, and femtech could perform well this year.
Zepto, in its recap report, said that in 2022 the highest value of a particular order was from Noida at over Rs 23,000. The report stated that a user from Mumbai placed as many as 1,988 orders in the year
Gupta gave tidbits of his own entrepreneurial journey. He recalled that his entrepreneurial journey was not easy and he had to restart it 5 times by taking up a job in the corporate world and saving money, only to restart.
Ashneer Grover, BharatPe's controversial co-founder and Shark Tank India's former judge, claimed that he paid half of the amount that Kohli would have charged, and signed 11 other players instead for the same campaign.