E-commerce loses allure, investors kickoff hunt to fund deep tech start-ups

IDG Ventures, in partnership with Axilor today launched the hunt, reports Tech in Asia

Not long ago, India’s startup scene was all about the consumer internet. A billion-strong people taking to the internet riding on smartphones made it seem like a market just about to ripen. Investors in all shapes and sizes – from newbie angels to behemothic hedge funds – raced to bet on e-commerce plays and a hundred apps mushrooming all over the country. But that lap of the investment race is over with no winners, dead or dying companies, and a funding winter.

IDG Ventures, which invested in India’s e-commerce leaders like Flipkart, Myntra, and Yatra, today launched a hunt to