Indian startups may raise just $10b this year amid prolonged funding winter

Indian startups may raise just $10b this year amid prolonged funding winter

FILE PHOTO: A delivery worker of Zomato, an Indian food-delivery startup, waits to collect an order from a restaurant in New Delhi, India, May 21, 2020. REUTERS/Anushree Fadnavis/File Photo

A funding squeeze at Indian startups that has already led to layoffs and delayed stock listings is set to worsen as investors reckon with stretched valuations and faltering consumption growth, likely laying the ground for industry consolidation.