2023 Business in a Nutshell:
Mixed bag, cautiously optimistic. It wasn’t a straightforward year, but here are some key highlights:
As the end of the year is around the corner, experts share their views about 2023 with Thisweekindia.news.
Amit Lakhotia, Founder & CEO, Park+
“The India startup story is still being written and has immense latent potential. Business which are frugal and are building robust business anchored by realistic valuation will continue to thrive even in the current dynamic environment. 2023 was a year of introspection for a lot of startups, chasing vanity matrixes and unrealistic valuations were two major dampeners, a reality check was much needed in the Indian context. Having said that, 2023 was more of recalibration and realignment for a lot of startups across verticals. 2024 will see the emergence of sustainable and profitable business, backed by a robust revenue generating model. The Indian startup story still has a lot of gas left in its tank.”
Nimish Trivedi, CEO & Co-Founder, Evera
“The growth in funding with respect to the Indian EV ecosystem makes waves as we navigate the startup terrain. Despite the funding winter, startups have embraced 32 deals this year, showcasing the sector’s robust growth. Significantly, the Indian EV space has attracted more than $780 Mn this year as per the recent industry reports, exceeding the 2022 amount of $758 Mn, showing a strong financial trend. The influx of funds validates our entrepreneurial spirit and drives us into the age of innovation towards sustainability. The flourishing environment indicates strongly the promise startups hold in transforming the way we power our future of electric vehicles, steering towards a greener, and more impactful tomorrow.”
