Near-zero rates globally, the speed at which decisions were taken during the pandemic and frothy valuations created the “perfect storm” that dried up funding, triggering a wave of layoffs at Indian startups.
That’s according to Posist Technologies Pvt.’s Ashish Tulsian; veteran investor Dr Ritesh Malik; and Murugappa Group’s Arun Venkatachalam. The trio spoke to BQ Prime’s Manvi Sinha Dhillon on the lessons to be learnt.
Venkatachalam, who is also an angel investor, described the funding buzz in 2020-2021 as a “perfect storm”.
“Near-zero interest rate, dollar-denominated funds, that money found itself all over the world,” Venkatachalam, also an angel investor, said. “Capital became a weapon. Lot of capital got deployed as a way to ward…