A large number of top executives have moved from unicorns to Series A and B firms or even down the chain in recent months – a move that reflects fund flows in the startup space.
On Wednesday, the company laid off another 18 employees across growth, engineering, product and design functions, cofounder Sambhav Jain said in a post on microblogging platform X.
Startups, which heavily rely on external investments to fuel their growth, have been forced to downsize due to a decline in investor funding. The lack of new investments flowing into the industry has become the biggest challenge for these startups, resulting in cost-cutting measures and cash conservation.
Among the steps proposed is setting up of a dedicated ‘deep tech capital guidance fund in which the government, private limited partners and foreign investors anchor certain commitments to a new fund or an existing fund in the form of fund of fund structure.