First off, at the moment’s story on the funding panorama for Indian startups.
Programming Notes: ETtech Morning Dispatch is taking a brief break at the moment as one other loopy, busy yr for tech information involves an finish. We’ll be again on January 2nd, 2023 with a model re-creation of the e-newsletter. The whole ETtech crew needs you and your family members Glad Holidays.
VC funding for startups falls 30% this yr
With a complete of $23.95 billion, enterprise capital funding for Indian startups is down sharply from final yr’s report excessive of $35.46 billion, information from Enterprise Intelligence reveals. Retail buyers have been selective, taking their ft off the pedal within the face of geopolitical uncertainty and price hikes.
Utilizing the numbers: The drop in funding is basically on account of sluggish late-stage (Sequence D and better) offers, which greater than halved to $11.70 billion from $24.91 billion in 2021.
In quotes: “Issues stay scorching and aggressive within the early-stage phase. In a downturn, you solely see individuals who actually imagine of their thought stop their job and begin. So the founding high quality is far increased,” Rahul Taneja, companion at Lightspeed Enterprise Companions, advised ET.
Prime snack: Trying forward, buyers are more likely to focus extra on the enterprise fundamentals of startups. As a result of defeat in world public markets, late-stage startups – as soon as prized for his or her development – are already being challenged on key fundamentals like profitability and prices.
Additionally learn: Yr in Evaluation 2022: Listed here are the most important tales from expertise and startups
ETtech State of Startups Survey: Save Cash, Cut back Combustion, Grow to be Worthwhile
Save money, scale back burns, grow to be worthwhile – that was the frequent refrain amongst India’s prime founders, buyers and web executives in ETtech’s annual State of Startups survey. The ballot, which requested for solutions from over 60 key individuals, comes amid one of many worst downturns for the tech business on the earth. As corporations tighten their belts, 64% of respondents mentioned the funding disaster might ease within the second half of 2023, whereas 21% thought it might worsen; 14.8% said that the atmosphere will stay the identical as this yr.
Additionally learn: ET Edit | No extra startup, time to develop up
Learn the complete story: ETtech State of Startups Survey: Save Cash, Cut back Combustion, Grow to be Worthwhile
Greatest tech and startup government strikes this yr
ETtech compiles its annual record of CXO-level exits and large strikes within the startup and tech industries in partnership with government search agency Longhouse Consulting. We have now additionally compiled all free brokers in search of new alternatives and crucial vacancies. The worldwide tech and startup ecosystem, together with India, has seen valuation and funding beating this yr, resulting in a funding winter. We carry you all the large strikes in what has been a shadowy yr for the tech sector.
Learn extra right here: Yr in overview 2022 | Who’s in, who’s out: Greatest management modifications in tech & startups this yr
Additionally learn: Yr in overview 2022 | Meet one of the best free brokers in India’s tech and startup sector
Startups laid off practically 18,000 workers this yr
New-age tech and web corporations have laid off practically 18,000 workers within the present funding winter. In complete, 52 startups laid off 17,989 workers throughout edtech, shopper companies, e-commerce, well being tech, logistics, fintech, enterprise tech, media and leisure, agricultural tech and cleantech. Of those, 15 edtech corporations account for about 44% of the layoffs.
Learn extra right here: Yr in overview 2022: Begin-ups with tight budgets have laid off nearly 18,000 workers this yr
Udaan, Ola and Oyo see the best variety of government exits this yr: B2B e-commerce firm Udaan noticed probably the most senior churn throughout the tech and startup ecosystem, adopted by mobility firm Ola and hospitality startup Oyo Lodges & Houses.
Learn extra right here: Yr in overview 2022 | Udaan, Ola and Oyo report the best variety of government resignations this yr
What’s in retailer for Fintech, Edtech in 2023?
Because the regulatory overhang on fintechs continues and the Reserve Financial institution of India (RBI) takes steps to control numerous points of the sector, buyers are anticipated to stay selective of their method, resulting in potential consolidation within the coming months .
Learn extra right here: Yr in overview 2022 | A turbulent yr 2023 awaits fintech startups
The pandemic-driven increase is over and expertise funding is drying up. And this has compelled edtech ventures to additional scale back prices and search sustainable offline fashions with worthwhile income streams, entrepreneurs and buyers say.
Learn the entire story right here: Yr in overview 2022 | Because the pandemic bubble bursts, edtechs are again in school
ET Ecommerce Index
We launched three indices – ET E-Commerce, ET E-Commerce Worthwhile and ET E-Commerce Non-Worthwhile – to trace the efficiency of lately listed expertise corporations. That is how they’ve completed it up to now.
Extra prime tales from our reporters
states to gaming police; middle to forge guidelines: State governments can be tasked with overseeing authorized and regulatory points associated to on-line playing of their jurisdictions, even because the union authorities defines the overarching guidelines for the business, insiders advised ET.
DTH corporations are turning to OTT aggregation to curb person churn: Cable TV and direct-to-home (DTH) corporations have turned to OTT app aggregation to scale back churn after years of pursuing a technique of bundling linear TV channels.
Google receives reminders from CCI for non-payment of penalties: In keeping with sources, the Competitors Fee has issued warnings to Google for failing to pay fines imposed for anti-competitive practices on-line throughout the prescribed time restrict.
International suggestions we learn
■ Three Causes Massive Tech Was Improper (FT)
■ Did the Tesla Story Ever Make Sense (NYT)
■ Twitter is not in Artistic Haven (wired)
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