Anandan, Managing Director – Sequoia Capital & Surge, was speaking at a knowledge seminar at Goafest 2023
This is the best time in India to invest and to build a new company, said Rajan Anandan at Goafest 2023 on Thursday. The topic of the discussion was ‘The Evolving Economy And The Future Of Startups’.
Speaking during a knowledge seminar presented by Disney, Anandan, Managing Director – Sequoia Capital & Surge, said the deal making when it comes to startups has slowed down as many companies have already raised a lot of capital in the last two years.
“It is right. It has slowed down. What has happened is that the late-stage funding has slowed down. It is because the best companies raised a lot of capital in 2021 and the first half of 2022. So, they don’t need to raise more capital. All big companies have one priority which is to be profitable,” he told independent journalist Anuradha Dasgupta during the seminar.
The dialogue touched upon several aspects of the economy, which included the evolution that continues to foster a fertile ground for startups, with an emphasis on capital, innovation, agility and disruption driving the creation of ground-breaking business models.
They discussed how the future of startups lies in leveraging emerging technologies to solve complex challenges, create new markets and drive economic growth.
Rajan shared that companies that Sequoia Capital & Surge has backed previously are in the consumer space and that they will see exponential profitability in the coming years.
“I truly believe in the profits these companies will incur in the next six quarters,” he said.
