 "SaaS vs AI: The true story behind investments 'drying up' in India")
The SaaS ecosystem in India has “suffered from an excess amount of venture capital” and the money has now dried up, said Sridhar Vembu, founder and chief scientist of Zoho, in an interview to news agency PTI last week. Funding is going to artificial intelligence (AI), he said. While AI is the buzz word, data on the startup ecosystem shows that funding there is down as well. Investments and rounds have been modest for both SaaS (Software as a Service) and AI companies, according to data from Tracxn.
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