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Funding winter to IPO spring: The resurgence of Indian startups as VCs eye IPOs and a path to profitability—expert analysis at ET Soonicorns Summit 2024

Economic TimesEconomic Times · 1y ago
Funding winter to IPO spring: The resurgence of Indian startups as VCs eye IPOs and a path to profitability—expert analysis at ET Soonicorns Summit 2024
Medial

- The Indian startup ecosystem has been experiencing a resurgence, fueled by reduced risk aversion among investors and increased domestic capital. - While late-stage funding hasn't fully recovered, early-stage funding is readily available, indicating a positive shift in the market. - IPOs are becoming a more attractive option for startups, with VCs increasingly focused on ensuring sustainable returns through public listings. - Startups must have profitability or a clear path to profitability before considering going public. - Companies reaching a certain revenue scale, often around $100 million ARR, become serious candidates for an IPO. - Founders must plan for all possibilities and prepare for the challenges of managing a publicly traded company, including regulatory requirements and shifts in management focus.

ETSA 2024 | Don't need to be in Bengaluru to build a startup: Zomato's Deepinder Goyal

Economic TimesEconomic Times · 1y ago
ETSA 2024 | Don't need to be in Bengaluru to build a startup: Zomato's Deepinder Goyal
Medial

- Zomato CEO, Deepinder Goyal, mentioned that one does not need to be in Bengaluru to build startups. - Nandan Nilekani, Infosys Chairman, had previously emphasized Bengaluru as the best city for entrepreneurs. - Goyal's remark reignites the debate about which city is the hub of the startup ecosystem in India. - While Bengaluru has traditionally been seen as the dominant force in the startup ecosystem, New Delhi has been gaining ground in recent years. - Apart from Zomato, several other startups from New Delhi, such as Paytm, Delhivery, and Policybazaar, have explored public market listings. - Goyal shared insights about Zomato's journey, changes after the IPO, and appearing on Shark Tank during the ET Startup Awards in Bengaluru.

Shraeyansh Thakur resigns from Peak XV after a decade

EntrackrEntrackr · 11m ago
Shraeyansh Thakur resigns from Peak XV after a decade
Medial

Shraeyansh Thakur resigns from Peak XV after a decade During his tenure at Peak XV, he was board member and observer for startups like Atlys, Meesho, Cars24, ApnaMart, Unacademy, Zetwerk, Urban Piper, Bijnis, among others. Shraeyansh Thakur, an investor at Peak XV Partners, has resigned after nearly 10 years at the venture capital firm, sources told Entrackr. This marks the fifth high-profile exit from Peak XV in the past year. “Shraeyansh Thakur has decided to quit the firm and is likely to launch his own venture soon,” said one of the sources requesting anonymity. Queries sent to Peak XV and Thakur did not elicit any response until publication of the story. "After an incredible 9+ years at Peak XV / Sequoia India, I have decided to embark on a new entrepreneurial journey. The next 10 years are going to be India’s golden digital decade and our founders now have true belief to create the world’s best companies from India," said Thakur in a Linkedin post. Last month, Peak XV’s managing partners, Shailesh Lakhani and Abheek Anand, stepped down after serving for more than a decade. Prior to that, Anandamoy Roychowdhary, a partner at Peak XV's Surge, departed after over 11 years at the firm, while Piyush Gupta, then Managing Director, left after seven years to launch his secondary-focused fund, Kenro Capital. Meanwhile, Rishen Kapoor, co-founder and CEO of SaaS startup Toplyne, has returned to Peak XV Partners after his three-and-a-half-year-old venture shut down. In October last year, Peak XV reduced its $2.85 billion fund by 16% as part of a strategic shift towards investing in a more measured manner amid elevated valuations in the Indian market. This development came a year after Sequoia Capital rebranded as Peak XV.

Hood pivots to matchmaking with new brand KnotDating

EntrackrEntrackr · 10m ago
Hood pivots to matchmaking with new brand KnotDating
Medial

Hood pivots to matchmaking with new brand KnotDating Before the pivot, Hood (formerly Zorro) raised around $3.2 million in funding from investors, including 3one4 Capital, 9Unicorn Ventures, Vijay Shekhar Sharma, Ritesh Agarwal, Ashish Hemrajani, Kunal Shah, and Ashneer Grover. Hood, a pseudonymous social networking platform, has pivoted to a matchmaking platform under a new brand, KnotDating. KnotDating, an AI-powered matchmaking platform, has been launched to cater to professionals seeking serious relationships. The platform uses behavioral insights combined with human-assisted matchmaking to enhance compatibility and foster connections. Currently, KnotDating operates on an invite-only basis, with plans to open registration to the public soon. Hood said that over the past few years, it has focused on creating authentic conversations in the digital space. Based on user feedback and market trends, the company identified a larger opportunity to help people build deep and lasting relationships. “While matrimony platforms rely on filters and preferences, we’re going deeper—using conversational AI to understand real human behavior and communication. We’re not just building another matrimony app—we’re creating a platform where compatibility grows through conversations. Our focus is on working professionals who are serious about finding a partner—individuals who want to take the lead in their own journey before involving their families,” said Jasveer Singh, co-founder & CEO, KnotDating. Before the pivot, Hood (formerly Zorro) raised around $3.2 million in funding from investors, including 3one4 Capital, 9Unicorn Ventures, Vijay Shekhar Sharma, Ritesh Agarwal, Ashish Hemrajani, Kunal Shah, and Ashneer Grover. Launched by Jasveer Singh and Abhishek Asthana, popularly known as Gabbbar Singh on the internet, Hood was a pseudonymous social networking platform that allowed users to express themselves anonymously.

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