Indias top internet firms like Flipkart have been fertile breeding grounds for entrepreneurs who left jobs to start something of their own. Drawing on a record inflow of venture capital in the past decade, 297 founders set up some 253 new companies, bolstering Indias Startup Mafia. This and more in todays ETtech Morning Dispatch.
Drawing on a record inflow of venture capital in the past decade, 297 founders have set up some 253 startups, igniting talk of a new-look “startup mafia,” as such cohorts of entrepreneurs are termed in industry parlance.
After having secured $500 million from Abu Dhabi Investment Authority (ADIA), the Gulf Sovereign wealth fund (SWF) in March, eyewear startup Lenskart has now raised another $100 million from private equity fund ChrysCapital as it aims to expand to more markets.
As a part of scale-up and profitability, Open said in the statement that it will continue the efforts to make a highly performance-oriented effective organization fit for scale, the statement said.