Flipkart's journey is symbolic of the changing global perception of India's startup ecosystem over the past fifteen years. Here's why
Bitten by the entrepreneurial bug, two IIT-graduates quit their jobs at Amazon to start an online retail business from an apartment in Bengaluru and an initial investment of ₹4 lakh. Two years later, in September 2009, the founders raised their first round of institutional funding of $1 million from US-based venture capital firm Accel. Within weeks, they opened offices in Delhi and Mumbai and hired over 150 people. This marked the beginning of the new-age startup’s meteoric growth and a critical turning point for the country’s budding startup ecosystem.
(This story appears in the 31 May, 2024 issue of Forbes India. To visit our Archives, click here.)