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During the Global Business Summit, leaders of the startup ecosystem said unit economics, total addressable market and founder quality are top of the mind for risk capital investors as the startup ecosystem in the country faces its worst-ever downturn.
Bringing you the latest news briefs on fundraising activities in the Asia Pacific.
Sellers and buyers were not immediately known but Fireside Venture is the likely seller. It owned a 7.57 percent stake in Honasa Consumer, the company's November 3 shareholding data showed
Arriving at a decision was difficult in the backdrop of a year which has been fraught with challenges for the venture capital industry as valuations and fundraising saw a major hit. Exits became scarce and the IPO market dried up.
OfBusiness, a B2B ecommerce firm, has been named the Startup of the Year at The Economic Times Startup Awards 2023. The company was recognized for its success in building a large-scale B2B venture focused on small and medium enterprises in India, while generating strong profits. The awards, which are in their ninth edition, celebrate entrepreneurship and recognize companies and individuals who have made significant contributions to the startup ecosystem. OfBusiness joins a prestigious list of previous winners, including Zomato, Oyo Hotels & Homes, and Swiggy.