Indian tech startups and consumer internet companies have—or will—hit a wall. We look at why, sector by sector.
When Indian startups raised a record amount of funds in 2019, followed by the minting of a dozen unicorns in 2020, many counted dollars raised as a marker for the tech upstarts to take over the market. The COVID-19 pandemic followed soon after, which served as a validation of eye-watering valuations for many consumer internet companies. Nothing could go wrong. But, it did.
The US Federal Reserve has raised interest rates seven times since 2022 and continues to be hawkish to control inflation. That put a hold on much of the money supply allocated to emerging markets like India. As …
Saif is a writer and co-founder at The Morning Context. He has worked across technology, strategy and business functions during his career. Saif has extensive experience in e-commerce, working with companies such as Snapdeal and LG Electronics in India. He currently works at an edtech startup in Canada. At The Morning Context, he focuses on e-commerce and retail and writes the stories that matter.
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saif@mailtmc.com
Toronto