Indian startups gear up for grim 2023 as SoftBank, Tiger Global tighten purse strings

Indian startups gear up for grim 2023 as SoftBank, Tiger Global tighten purse strings

As the pandemic-induced euphoria of 2021 tempered amid a global downturn and geopolitical tensions in 2022, two of Indian startups’ biggest backers —  New York-based hedge fund Tiger Global and Japanese investment firm SoftBank — significantly cut back on their investments in the country. And the scenario is unlikely to change in the near term.