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.