'Instant home services act as an on-demand household support system, bridging the gap between informal domestic help and structured service platforms,'
Venture capital (VC) and private equity (PE) funding for Indian startups in the artificial intelligence sector has seen a dramatic decrease with deal sizes shrinking, notwithstanding the buzz around the country's potential as a major AI hub. Data from research agency Traxcn, which tracks PE/VC investments, shows that total funding for AI startups in India, which started with a bang in 2022 at $599 million, dropped sharply in 2023 to $168.4 million - a decrease of over 71 per cent.
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
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 past few years have seen the first cycle of mergers and acquisitions, exits, and track-records being created.
Cooperatives which earlier found it difficult to sell their wares have now found an online market via several e-commerce websites.
Venture capitalists are leveraging their experience to build something new.
Though e-commerce opens a new world for the handicraft industry, empowering craftspersons still remains a real challenge.
Start-ups that did not have a business model and, hence, could not grow or attract new funding, are shutting shop.
Investors spent much of 2016 cleaning house. And a VC tells Ranju Sarkar, "There's still some bad news left in the portfolios (of VC firms). What happens to Ola and Flipkart will drive sentiment in future."
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