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Indian Startups Layoffs News: Indian startups have struck 22 business deals worth around $926 million in January this year and have raised around $1.2 billion during January. Early-stage startups have received $265 million in 67 deals, while 12 startups have not disclosed their transactions.
IANS has quoted Fintracker, an arm of startup news portal Entrackr, as saying that the average deal size for early-stage startups was around $4 million and they have raised $1.2 billion this year. On the other hand, in a Moneycontrol report, it has been told that 14 startup companies have laid off more than 2,100 employees during January 2023.
PhonePe raised the most money
Among Indian startups, digital payment app company PhonePe has raised around $350 million in total funding during January, while CreditKey has raised $120 million. Both these startup companies have raised 40 percent of the total fund.
Mergers and acquisitions of 18 companies
Ecommerce website has got the most deals. According to the report, 60 deals have been done in Bangalore, while 15 deals have been done in Delhi NCR. At the same time, the Indian startup ecosystem has seen 18 mergers and acquisitions in January across all segments. At the same time, it has been said in the report that compared to this period, more deals have been done this year than in 2022.
These Indian startups laid off
year 2023 In India, 14 startups companies have laid off 2,135 employees. In this, companies like MediBuddy, Swiggy, Sharechat, Ola, Dunzo and Lead have laid off. During the year 2022, Indian startups fired 20,500 employees.
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