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NEW DELHI: Funding for Indian startups declined by as much as 72% year-on-year to $6.6 billion in the January-September period, data sourced from market research platform Tracxn showed. In the year-ago period, companies had garnered investments worth $23 billion. The decline underlined subdued investor appetite and their reluctance to fund ideas that fail to demonstrate business viability.
A dearth in the availability of easy money has left several startups stranded – X rival Koo, for instance, is looking for a strategic partner with “distribution strength” for a wider reach. Cash-strapped quick commerce firm Dunzo, which has laid off several employees, is banking on investors for a bailout.
A dearth in the availability of easy money has left several startups stranded – X rival Koo, for instance, is looking for a strategic partner with “distribution strength” for a wider reach. Cash-strapped quick commerce firm Dunzo, which has laid off several employees, is banking on investors for a bailout.
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