To be sure, they're capturing top line in a market that's projected to grow to $30 billion by 2027 from $19 billion in 2022. But it's a highly competitive environment in which deep-pocketed players are making inroads and demand isn't too robust.
As such, the costs for startups that are spending on one count or other have been killing. In some instances, revenues have even doubled but that has not been enough to take care of the bills and leave a surplus. Both mCaffeine and Sugar Cosmetics for instance, are investing heavily to expand their offline footprint across India in a bid to increase visibility.
The fact that funding in such businesses fell to just $84 million in 2023 from $679 million in the previous year and a good $1 billion in 2021, as per Tracxn, suggests investors are treading cautiously.
هذه القصة مأخوذة من طبعة January 15, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 15, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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