India’s Tech Hub Can’t Deal with SVB if It’s Stuck
in Traffic
https://www.washingtonpost.com/business/2023/04/09/india-s-tech-hub-can-t-deal-with-svb-if-it-s-stuck-in-traffic/67493dfc-d71c-11ed-aebd-3fd2ac4c460a_story.html
Andy Mukherjee:
At present, Bengaluru, known for its all-year-round temperate climate, is experiencing a strange mix of hot and cold. Political temperatures are rising because of the impending polls, but an icy startup-funding winter is making founders shiver. Tiny ventures are getting money from domestic angel investors, while more mature firms like Razorpay have cash in the bank and a visible path to profitability. It’s the ones in between — those yet to go through their Series A, B, and C — that are in trouble. Blockchain-oriented businesses are in a funk because authorities have turned increasingly wary of cryptocurrencies. With jittery global banks as some of their biggest clients, Bengaluru’s established, publicly traded outsourcing firms are also bracing themselves for a sharp slowdown.
Unlike the perennial shortage of infrastructure, inclement business and financing conditions are a temporary blip. Bengaluru’s economic proposition will keep getting stronger.
https://www.washingtonpost.com/business/2023/04/09/india-s-tech-hub-can-t-deal-with-svb-if-it-s-stuck-in-traffic/67493dfc-d71c-11ed-aebd-3fd2ac4c460a_story.html
Andy Mukherjee:
At present, Bengaluru, known for its all-year-round temperate climate, is experiencing a strange mix of hot and cold. Political temperatures are rising because of the impending polls, but an icy startup-funding winter is making founders shiver. Tiny ventures are getting money from domestic angel investors, while more mature firms like Razorpay have cash in the bank and a visible path to profitability. It’s the ones in between — those yet to go through their Series A, B, and C — that are in trouble. Blockchain-oriented businesses are in a funk because authorities have turned increasingly wary of cryptocurrencies. With jittery global banks as some of their biggest clients, Bengaluru’s established, publicly traded outsourcing firms are also bracing themselves for a sharp slowdown.
Unlike the perennial shortage of infrastructure, inclement business and financing conditions are a temporary blip. Bengaluru’s economic proposition will keep getting stronger.