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<ul><li>Thousands lost their jobs amid a deepening funding winter in 2022 amid massive layoffs by the tech companies.</li><li>According to a PwC <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> report, startup funding in India hit a two-year low at $2.7 billion in the third quarter of 2022.</li><li>Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year.</li></ul> Indian startups, which saw a massive 35 per cent drop in funding in 2022 -- from $37.2 billion in 2021 to $24.7 billion (till November) -- are bracing themselves for a deepening funding winter in 2023 as recession fears loom. Although some startups, like fintech platform <keyword id="6557529" type="General" weightage="50" keywordseo="kreditbee" source="Orion">KreditBee</keyword> ($200 million), Foodtech platform HealthKart ($135 million) and HRtech software-as-a-service (SaaS) platform BetterPlace ($40 million), raised decent funds in December last year and in the beginning of January, the scene overall is grim as VC money has squeezed. Thousands lost their jobs amid a deepening funding winter in 2022 amid massive layoffs by the tech companies, which still continues. According to a PwC India report, startup funding in India hit a two-year low at $2.7 billion in the third quarter of 2022. In 2022, the significant drop in funding was attributed to a decline in late-stage investments, which fell by 45 per cent from $29.3 billion in January-November 2021 to $16.1 billion for the same period this year, according to data provided by <keyword id="2779670" type="General" weightage="80" keywordseo="tracxn" source="Orion">Tracxn</keyword>, a leading global market intelligence platform. Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year. The report said that 22 startups entered the unicorn club in 2022, as compared to 46 in the previous year.The number of big ticket ($100 million and above) funding rounds dropped by 35 per cent to 55 as compared to 85 in the reported period. The number of funding rounds saw a drop of 30 per cent, from 2,647 last year to 1,841 this year, the report said. "The funding winter, which began in Q4 of 2021, will persist in 2023 as well. In order to survive the drought, startups are taking unit economics more seriously, which has been illustrated through the series of mass layoffs that have occurred this year," said <keyword id="520013" type="General" weightage="80" keywordseo="neha-singh" source="Orion">Neha Singh</keyword>, Co-Founder, Tracxn. "Although we are currently experiencing a slump, the situation is prompting startups to establish clearer and more sustainable paths to growth, as investors' evaluation metrics begin to emphasise good profitability over growth at all costs," Singh had said in a statement. The startup ecosystem's funding winter could last another 12 to 18 months and the industry may face "a lot of turmoil and volatility", Flipkart CEO <keyword id="6379357" type="General" weightage="80" keywordseo="kalyan-krishnamurthy" source="Orion">Kalyan Krishnamurthy</keyword> warned recently. According to <keyword id="12046361" type="General" weightage="80" keywordseo="shrijay-sheth" source="Orion">Shrijay Sheth</keyword>, Founder, Legalwiz.in, 2023 will continue to be the year of sustenance for most, and funders will continue to remain more cautious. "Both valuation multipliers and funding opportunities will go more conservative. Startups must build better units economics as opposed to expensive acquisitions driven growth channels. Geo-political issues, Global supply chain crisis and other macro issues are expected to prevail," he said. However, this also needs to be seen as a year where resilient, innovative and problem-solving entrepreneurs shall get an opportunity to stand out from the crowd. "As the macro environment gets tougher, we can expect some excellent business models to outshine the rest with high levels of innovation and frugality. Also, mostly the serious funding houses will prevail while we will see visitors in the VC world take a break," <keyword id="262579" type="General" weightage="80" keywordseo="sheth" source="Orion">Sheth</keyword> noted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/there-is-a-link-between-drinking-sugary-sodas-and-hair-loss-says-beijing-based-study/slidelist/96796018.cms">There is a link between drinking sugary sodas and hair loss, says Beijing-based study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/chaman-metallics-first-sme-ipo-of-2023-subscribed-197x/articleshow/96795916.cms">Chaman Metallics, first SME IPO of 2023, subscribed 197x</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/60-of-blue-and-grey-collar-jobs-go-to-freshers-with-tech-skills-billion-careers-report/articleshow/96795198.cms">60% of blue and grey collar jobs go to freshers with tech skills: Billion Careers report</a>

India's startup economy stares at deepening funding winter in 2023

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Neha Singh</div></div></div><ul><li>Obsess is an online virtual shopping platform that lets users shop in a discovery-oriented context.</li><li>Its founder, ex-Googler Neha Singh, hopes to create the e-commerce platform of the future, where users will some day shop as online avatars in lush, 3D environments.</li></ul>"You can't sell fashion and art the same way you sell toothpaste," says Neha Singh. "But on the internet, that's exactly what we do: Toothpaste is sold the same way as beautiful clothes."Singh is the founder of <a href="http://www.obsessar.com/about/">Obsess</a>, a new online shopping platform that seeks to reinvigorate what she describes as the "boring and tedious" business of online shopping. Singh hopes to usher in a new era of online <keyword id="6354851" type="UNKNOWN" weightage="60" keywordseo="retail">retail</keyword>, where currently, items are almost always presented as two-dimensional thumbnails on a uniform scroll-through grid."In real life, shopping is a form of entertainment," says Singh. "It's driven by discovery and inspiration and fun. That's not happening online."Singh, a self-described fashion fanatic with experience working at both Google and Vogue, has developed an online platform that presents items in "virtual stores" where users can browse retail goods in discovery-oriented environments that mimics real life. When you take your first virtual step inside <a href="http://virtualstore.carmensol.com/main">Obsess's online outpost of Carmon Sol</a>, an Italian luxury retailer, you're greeted with an eye-popping display of handbags inside a sun-drenched, airy shop. Peppy, Spanish music plays in the background. Inside the virtual space, you can "walk" around to get a closer look at the shoe-filled shelves in the back. If an item interests you, you can "pick it up" by clicking over it, which brings you to more details on the item and an online shopping cart. A poster on the wall of a bikini-clad model reveals that the items she's wearing are available for purchase as well. <div class="KonaFilter image-container display-table"><div><div class="image on-image">ObsessObsess's virtual store for Carmon Sol.</div></div></div>While Carmen Sol's online store is animated, other Obsess offerings draw from 3D imaging of real spaces. For instance, Obsess's virtual store for <a href="http://virtualstore.farfetchvr.com/">boutique fashion retailer Farfetch </a>brings you to the company's Brown East, London shop. Upon entry, you can browse items during a virtual walkthrough. Singh says Obsess lets online shoppers browse products they might not otherwise have discovered, which gives an opportunity for companies to steep their customers in a unique and personalized branding experience. The store presentations are only the beginning, says Singh. With a computer-generated store, the possibilities of Obsess's online platforms are limitless, she says. <div class="KonaFilter image-container display-table"><div><div class="image on-image">ObsessObsess's virtual store for Farfetch.</div></div></div>In the future, Singh hopes to create virtual in-store shopping assistants, avatars that are true to a customer's size and shape who can virtually try on clothing, and a myriad of different shopping contexts: Anything from beachside resorts to rock concerts. "Our goal is to recreate the ecommerce interface for categories that aren't search-based," says Singh. "The whole point is to increase engagement in order to increase customer conversion."As more retailers move to ecommerce, Singh hopes to provide a platform where they can fully express their brand identity. Obsess, which recently graduated from New York's incubator program Techstars, is currently raising funds to build what Singh describes as the e-commerce platform of the future."For us, the market potential is huge," says Singh. "Home and retail fashion alone is a $2.4 trillion industry, and more and more sales are moving online every day. We want to capture those online sales. We want to be the next e-commerce category for the huge companies moving into this space." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/samsung-chg90-ultra-wide-gaming-monitor-perfect-gaming-2018-5">We tried gaming on the Samsung CHG90 ultrawide gaming monitor</a></h3> <div> </div> </div>

This ex-Googler has big plans to kill the 'Amazon experience' of online shopping

BBC's 100 <keyword id="624" type="ORGANIZATION" weightage="100" keywordseo="Women">Women</keyword> unveiled its chosen list of inspirational women for 2016 today. From amongst 100 globally chosen women, the list also includes five Indians- <keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> actress <a href="http://www.businessinsider.in/Meet-Sunny-Leone-the-smart-businesswoman/articleshow/53193428.cms">Sunny Leone</a>, Mallika Srinivasan, Neha Singh, Saalumarada Thimmakka and Gouri Chindarkar. 
 
 Some of this year’s high profile women include singer-songwriter Alicia Keys; US gold medal winning gymnast <a href="http://www.businessinsider.in/searchresult.cms?query=simone+biles&amp;sortorder=effectivedate">Simone Biles</a>; French politician Rachida Dati and Chairman of Santander UK Dame Shriti Vadera. 
 
The women chosen this year are a mixture of female trailblazers – high-profile and influential women from all corners of the world, with more entrepreneurs, engineers, sportswomen, business women, fashion icons and artists than ever before. A third of nominees are aged 30 and below, while several of the inspiring women are over the age of 80, many of whom campaign for their causes whilst striving for a better world for themselves and their families. 
 
Needless to say, it's a proud moment for the country and also time to acquaint ourselves better with these Indian women doing extraordinary work. 
 
Here are the five Indians who made it to BBC's 100 Influential Woman 2016.

Sunny Leone and four Indians make it to BBC's 100 most Influential Women List

<ul><li>Established <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> are looking at ways to expand their boundaries and are thus encroaching each other’s territories. </li><li>Investors too have been backing up these expansion plans. </li><li>So, it brings up the near possibility of a consolidated market in India.</li></ul>India has grown to be the world’s third largest startup ecosystem, with over 20 unicorns some of which have already established a global foothold. But as India’s number of startups keeps growing, there’s also another unique problem that exists - established startups are looking at ways to expand their boundaries and are thus encroaching each other’s territories. Most recently, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> made news for venturing into grocery delivery, a segment that has been dominated by startups like BigBasket and Grofers or even the delivery services startup Dunzo. Oyo is reportedly looking at entering the foodtech sector by acquisition of Freshmenu to offer more services to its customers. Paytm which has managed to stay in the news throughout last year for good and bad news, has already been experimenting by venturing into several different verticals like e-commerce (Paytm Mall), ticketing (giving competition to the likes of BookMyShow and MakeMyTrip), and of course, how can one ignore its big entry into the world of banks with the payments bank. So what’s making these startups force an entry into another’s territory? Vivek Durai, founder of paper.vc, a data platform for business intelligence and innovation, told Business Insider that one of the reasons could be simply laziness. “It means they did not have a well-thought out plan to achieve brand and product superiority in their growth vertical. It means that their financing rounds have involved significant amounts of introspection about their ability to sustain in a lead purely on the basis of their existing value proposition,” said Durai. But there’s a silver lining. Investors too have been backing up these expansion plans of startups, proving that these startups are showing space for growth beyond their current segment. And Durai says this is the other reason - an organic one. “The territories they enter are 'features' in a product roadmap and are logical next steps to deliver better value to customers which signals alignment,” he said. While startups might not be consciously encroaching into each other’s segments for growth, what it essentially boils down to is how they are planning their growth. Neha Singh, co-founder and CEO of data analytics platform Tracxn believes that it’s a product-oriented approach – whether these companies are focusing on a single offering or multiple. “In the US, companies are typically focussed on one particular product while Chinese companies have a different approach where they diversify much earlier. Which one is a better strategy is still an open debate especially when India has seen both sides of the coin,” said Singh. The choice between single strategy or multi-strategy approach has been seen in various Indian companies. “When you initially start with one product and then diversify, companies realise it’s difficult to handle and obviously, their burn increases. So while companies can meet with success on the multi-strategy approach, they might sometimes go through a heartbreak too,” said Singh. For example, a BookMyShow has essentially stuck to its basic offering of booking tickets, while a Paytm has diversified into multiple different segments. And there’s one lesson to learn – Paytm has the backing to burn cash. It remains to be seen what works out in the Indian market but with acquisitions and mergers heating up the Indian startup space, there strikes the pertinent question – is the Indian startup world headed towards consolidation? “Eventually, yes. But given that the market itself is evolving, growing slowly – the middle class is still too small compared to China. The need of the hour is to kickstart a production-based economy where Indians are able to spend more money simply because the Indian economy is benefiting from export income,” said Durai. See Also: <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/swiggy-and-bigbasket-will-battle-softbank-and-mukesh-ambani-in-online-grocery/articleshow/68204293.cms">Online grocers are back in business in India with billions more to burn – and that may be good for consumers</a>

Do Swiggy, OYO, and Paytm lack Silicon Valley’s planning and conviction?

<keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman Emeritus of <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>, has recently invested an undisclosed amount in <keyword id="2779670" type="UNKNOWN" weightage="100" keywordseo="Tracxn">Tracxn</keyword>, the Bengaluru-based startup intelligence platform. 
 
With this development,Tracxn has joined the list of almost two dozen startups and tech companies that Tata has backed in the past two years, including Snapdeal, Ola Cabs, Paytm, Urbanladder, Xiaomi, UrbanClap and DogSpot. 
 
He is also involved with venture capital firms like Kalaari Capital, IDG Ventures India and Jungle Ventures in the capacity of an advisor. 
Talking of Tracxn, it has raised angel funding from Flipkart's co-founders Sachin and Binny Bansal, Delhivery's CEO Sahil Barua and $3.5 million in series-A funding from SAIF Partners. 
 
The company was founded in 2013 by former venture capital investors Neha Singh (ex-Sequoia Capital) and Abhishek Goyal (ex-Accel Partners), and tracks over 100 sectors including enterprise infrastructure, enterprise applications, technology, consumer, mobile, digital marketing, health, education. 
 <keyword id="2928014" type="UNKNOWN" weightage="100" keywordseo="Tracxn-Labs">Tracxn Labs</keyword>, an angel invest fund, and <keyword id="3401467" type="UNKNOWN" weightage="100" keywordseo="Tracxn-Syndicate">Tracxn Syndicate</keyword>, an angel investment group are also run by Tracxn, putting it in competition with Let's Venture, which is another fundraising platform that has been backed by Tata. 
 
In its clientele, Tracxn boasts of venture capital funds, private equity firms and corporate development teams who use the services provided by the company it to spot investment, merger and strategic partnership opportunities in different sectors. Some of these names include Andreessen Horowitz, Sequoia, SoftBank, Google Capital, VMWare, GE and LG. 
 
In the past one year, Tracxn has increased its number of analysts assigned to exclusively tracking startups from 25 to 125. The client base has also seen a 400% increase to over 300 customers across 20 countries in the past 12 months. 
 
"Ratan Tata is a trusted household name &amp; his way of building things has played a critical role in how our thoughts shaped up in early days of our lives," Goyal told ET. "As we rapidly expand across geographies, his unconventional ways of building large companies with high diversity will be very useful," he continued. 
 
<a href="http://www.in.techradar.com/photo/47922351.cms">Image source</a>

Ratan Tata just invested in this startup intelligence platform!

They might be boasting of a trend they have rightly caught up with. But they aren’t really ready to set the equilibrium. The start up culture in India has given India an entrepreneurial identity in the global map, yet none of the companies has a single woman employee in its executive leadership. 
 
India's biggest, most funded and perhaps the fastest growing startup, Flipkart, is beginning to reflect the problem haunting the country's much bigger technology industry that of gender diversity at the top, informs a news report by The Economic Times. 
 
Not only Flipkart, Myntra Ola, Quikr, Freshdesk and several others have long ignored the need to achieve gender diversity at the top. The ET report believes, perhaps the founders have been too busy building their startups. 
 
But building an equitable culture and at least trying to put together a diverse leadership team is a responsibility they cannot shy away from, especially if more than third (and in some cases nearly half) of their employees are women. 
During Women’s day and other ‘seasonal’ events, these companies bring out a hyped gender diversity debates. But this issue is far too important to be raised only during the season, and secondly, March is too far, far away to wait, states the news report by the financial daily. 
 
The ET lists out some dynamic founders of startups such as MapMyGenome (Anu Acharya), Limeroad (Suchi Mukherjee), Tracxn (Neha Singh), Mad StreDen's Ashwini Asokan and Trucksfirst (Gazal Kalra). But other than this it's really difficult to spot women entrepreneurs and top startup executives. Some of them may lack experience in managing large, complex organisations. But that's an area of improvement for many, many professionals of the opposite gender. 
 
The ET asks the right question- if founders and startups can spend so much of time debating, arguing, calling each other names, about issues of hiring, evil investors, intellectually challenged boards - why not set some time aside on solving the global tech's oldest problem? 
 
Perhaps somebody in India could put together "a list of boss ladies" the way Silicon Valley veteran Sukhinder Singh Cassidy did with this Boardlist. 
 
For its part, Flipkart seems to have realised that it needs to do better in terms of gender diversity. Couple of weeks ago, it announced an attractive maternity package to retain its women staff across the company. 
 
But a detailed questionnaire sent on last Friday to Flipkart, Zomato, and several others remained unanswered. In fact, Paytm was the only company to have responded. 
 
Some would argue (and perhaps rightfully so) that with the rise of new breed women founders at startups such as Trucksfirst, MapMyGenome and several others, things are much better off and there is no need to demand gender diversity at companies such as Flipkart. 
 
But the real issue is not just about having a good number of women founders in the ecosystem. It's more about ensuring diversity at startups such as Flipkart that are no more small; employ thousands of staff, and are seen as role models for the entire ecosystem. They need to urgently address the aspirations of their (potential) women leaders and set an example, suggested the news report.

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