During an exclusive 20-minute candid conversation at the Moneycontrol Startup Conclave last week, Khosla also discussed topics such as how Indian startups can develop global products, the need for increased maturity in deep-tech investing in India, and his optimistic outlook on India's startup ecosystem
Kalra also said that generating cash in B2B business models is easier, taking a contrarian view as many venture capital firms do not consider it an attractive business model.
Khosla's take on deep-tech investing echoes that of Accel's Prashanth Prakash, another veteran investor in India, who last month bluntly said that there is no real deep-tech ecosystem in India
“Raising money at high valuations makes you try to live up to that valuation from the next day onwards. We were celebrated, but that mistake cost us a lot of sleepless nights,” Neeraj Kakkar said.
Nearly half of the country’s 107 unicorns that have filed their financial reports for FY22 have a last-twelve-months average revenue multiple of around 30, according to data compiled by Moneycontrol, higher than most geographies, where such multiples are in the range of 15-20 for high-growth companies, investors and bankers said.
The broking industry’s volumes will go up and margins will come down, and the pecking order will change as some new-age companies will manage to make it to the leaderboard