Vineeta Singh, the Co-founder and CEO of SUGAR Cosmetics, has expressed concerns about the availability of capital for startups in 2024. She stated that she does not anticipate a significant increase in funding this year, given the decline in startup funding from $25 billion in 2022 to $11 billion in 2023. Singh mentioned that conversations with international funds investing in India do not indicate a shift in their approach.
Singh, who is also a judge on Shark Tank India, highlighted the show’s role as a potential source of capital for entrepreneurs amidst the current funding landscape. She emphasized that while funding may be challenging, startups can still focus on revenue and scale, noting that India’s GDP growth remains on track.
During the third season of Shark Tank India, Singh observed a focus on profitability, cash flow, and corporate governance among the participating startups. She advised founders to prioritize long-term sustainability and fiscal discipline, cautioning against relying solely on external funding to sustain their businesses.
Singh noted that the show has been instrumental in promoting diversity and innovation in India’s startup ecosystem, with a significant representation of women founders and investments in non-metro areas. She also highlighted emerging opportunities in the health-tech space, where startups are shifting their focus from cure to prevention.
Looking ahead, Singh expressed optimism about the contribution of startups to India’s GDP and employment generation. She revealed plans for an IPO for SUGAR Cosmetics in the next 2-3 years, following the company’s achievement of profitability in December 2023.
