The start-up funding ‘winter’ is a reality but it is going to be short and sharp, and it has been exacerbated by the banking crisis in the US and Europe, travel services provider MakeMyTrip Chairman Deep Kalra said on Tuesday.
With domestic players in travel in India reporting more than 100 per cent recovery from pre-COVID period, the industry will witness steady secular growth, he said while speaking at the Times Network India Digital Fest here.
“I think the startup winter, which we’re talking about or the funding winter that we’re talking about is a reality, but it’s going to be short, but sharp,” Kalra said.
He further said, “And today, it’s not only because of the overheated part of it, but now we have the banks crisis, not just in the US but also in Europe, which really exacerbates most of this but I’ve seen cycles now being shorter, sharper and it will come back.
Kalra was responding to a query on the churn witnessed by the start-up ecosystem where valuations…