The Indian economy grew at a rate of 6.10% in the final quarter of the previous fiscal, pushing the overall growth rate to 7.20% for FY23 and making India fastest growing major economy for second year in the row, a remarkable achievement. Start-ups on the other hand are finding it increasingly difficult to raise funds in due to cautious investors, drying of liquidity and market volatility. Start-ups, pressed for funds might be looking at down rounds in coming months. Indian stock market continued their performance run and Sensex and Nifty 50 improved by almost 2.47% to close at 62,622.24 and 2.60% to close at 18,534.40 respectively in the month of May 2023.
Key Private Equity and M&A deals include Logistics startup Ripplr raising $40 Million in Series B funding Round from Fireside Ventures and Macquarie Capital acquiring 51% stake in Network as a Service provider
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