Indian startups lose 80 jobs above Rs 5 crore a year
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The e-commerce and edtech sectors were hit hard, with jobs down 93 percent and 84 percent respectively, according to a report by executive search and talent advisory firm Longhouse Consulting.
He added, “Early stage startups in Series A and B level EV, healthcare, AI/ML, fintech and manufacturing have several positions available for senior positions and we expect to see an increase in hiring. will be done,” he added.
But the startup ecosystem will see a surge of experienced entrepreneurs launching second and third ventures, and veteran executives making the switch to entrepreneurship. “The current start-up slump will stimulate more entrepreneurship rather than negatively impact it,” Das said.
Indian start-ups raised a total of $2.8 billion in the first quarter of 2023, a sharp drop of 75% compared to the same period last year ($11.9 billion). This is because inflation and rising interest rates continue to have a significant impact on investment. A deepening winter of fundraising.
A recent report from Tracxn, the world’s leading market intelligence platform, found that there were 14 unicorns in the first quarter of 2022, while new unicorns were born between January and March. didn’t.
