As the final verdict on GoMechanic awaits, the VC ecosystem is rethinking its ways. Founders will find their funding getting delayed and there will be more questioning. Even early-stage investments may take longer time now, investors said.
Kuku FM currently has a base of more than 1.6 million active paid subscribers and aims to achieve over 10 million paid subscribers by the end of 2023.
Nandan Nilekani's Fundamentum Partnership stayed away from any new investment in 2021 as the firm couldn't find companies where it thought it would be able to generate returns.
The funding slowdown is healthy because nothing was changing in the business but valuations were going up because of the fear of missing out for venture capital firms
Fundamentum joins a growing list of early-stage venture capital investors in India to have raised large funds for Indian-focused startups. Earlier this year, VC firms Accel and Elevation Capital had also closed their largest-ever India-focused funds.