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It seems that there is an excess of funds up for grabs, resulting in startups prioritizing the ability to secure funding rounds over the ability to be sustainable and profitable
"In many ways, for the VC world, the pandemic is business as usual. Innovation never sleeps, and neither does the money that funds it."
In the changed venture capital market, many investors are now making once-unthinkable demands.
The investment will further boost the company's efforts to increase cryptocurrency adoption in India.
Business must continue in spite of the crisis, and here are some changes the investment landscape is seeing as investors and entrepreneurs make the best of a bad situation.
The round was led by B Capital Group and saw participation from two new investors Rocketship.vc and Unilever Ventures along with some existing investors
At the end of the day, it is the teams that trust each other and can work well together who can survive a crisis together.
The fresh funds will be used for the company's global expansion into Southeast Asia and the United States, as well as for research and development to further enhance its platform.
Navigating a high-growth company can be difficult for every entrepreneur to manage.
The fresh funds will be used to grow the company's user base over the next year and further capitalize on its upcoming e-sports and gaming content.
Any new ideas will face a tough germination ground with lower valuations and more stringent terms. Consolidation rather than growth will be the mantra.
The Delhi-headquartered company said the new capital will be utilized to expand the India business, widen its footprint and consolidate its leadership position in the premium beer market in India.
Venture investors can learn from this, and not only continue to invest in great founders with big ideas through this rough patch, but also perhaps more than ever before support their existing portfolio companies.
At the end of the day, much of this is out of our control, and out of the control of our portfolio companies. What we can do is start stress testing- turn this into a new variable.