Investors attribute the revival to the country's strong public markets, which are boosting confidence in initial public offering (IPO)-bound startups offering viable exit opportunities.
'The demand is not there for those who are not following industry standards. And this is true for the 10 per cent of employees who are now being asked to leave. It is a good course correction from the long-term perspective for the industry,' Ninad Karpe, CEO and MD, Aptech.
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
Foreign investment in India's start-ups has plummeted 72 per cent to $4.58 billion so far, from $16.2 billion during the same period last year.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
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