“It was the best of times, it was the worst of times…”
Ask anyone in the Indian startup ecosystem about the state of the state—the answer will inevitably paint the last three years as a “golden period” for Indian startups and investors. Thanks in large part to VC-funded discounts and Jio-fuelled dirt-cheap data, the online market in India is booming like never before. Everything from ride-hailing to food delivery to e-commerce has become a mainstream consumer market rather than the niches they were earlier. Billions of dollars of new investor capital has entered the country and more than a dozen startups have reached the exalted unicorn status.