Indian startups’ tension increased due to Silicon Valley Bank sinking, government assured help – indian startups meet rajeev chandrasekhar after svb collapse
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The collapse of SVB in the US has worried the Indian startup ecosystem. According to reports, more than 1,000 Indian startups may have exposure to the bank. According to recent data from Traxon, a global software-as-a-service (SaaS)-based market intelligence platform, SVB had exposure to at least 21 startups in India, though it did not disclose the size of investments in these startups.
Top venture capitalist (VC) firms issued a joint statement on the collapse of SVB, one of the largest US banks serving the global startup community, saying they are disappointed and concerned.
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