At least 15 startups, including the most-funded unicorns, let go of close to 3,000 employees in January, taking the total tally of layoffs to more than 20,000 since the start of 2022
In a candid interview with Moneycontrol, KreditBee co-founder and CEO Madhusudan Ekambaram said that he intends to take the company public in three years. He also shared the rationale behind raising funds and provided an overview of the company's revenue and profit numbers.
The report further revealed that Indian startups raised about $3 billion in July-September this year, against $11 billion in October-December 2021.
The raised funds will be used primarily for new product development. The process is in early stages and valuations are being worked on. No fund houses have been approached as yet.
Modern investment methods have roots going back hundreds, sometimes thousands, of years.