Q4 ECOMMERCE_V7 THE STATE OF INDIAN ECOMMERCE 2023

© INC42 MEDIA | NOT FOR DISTRIBUTION / 1
STATE OF
THE INDIAN
ECOMMERCE
Q4-2023
Online Festival Sales
InFocus
POWERED BY

01
02
03
04
TABLEOFCONTENTS
TABLEOFCONTENTS
INDIA’S DIGITAL ECONOMY
ECOMMERCE MARKET IN INDIA: A SNAPSHOT
INDIA’S ECOMMERCE LANDSCAPE
ECOMMERCE MARKET IN INDIA
05
06
07
09
HOW INDIAN ECOMMERCE ECOSYSTEMS STACK UP AGAINST THE US & CHINA
INDIAN ECOMMERCE STARTUP ECOSYSTEM IN Q3 2023
ECOMMERCE IN INDIA: STARTUP FUNDING TRENDS
08 CONSUMER TRUST — THE BIGGEST FRONTIER OF GROWTH FOR D2C BRANDS
INFOCUS: ONLINE FESTIVE SALES 2023
10
11
12
YEAR-ON-YEAR GMV OF ONLINE FESTIVE SALES
CUSTOMER EXPERIENCE ANALYSIS: NOTABLE MARKETPLACES DURING FESTIVE SALES 2023
KEY GROWTH DRIVERS OF ONLINE FESTIVE SHOPPING IN INDIA

India To Have 900 Mn+ Active Internet Users By 2025
By 2025, 56% of all new internet users will be from rural areas, and 65% of new internet users will be female
2022
931 Mn+
759 Mn+
360 Mn+
399 Mn+
1.1 Bn+
900 Mn+
396 Mn+
504 Mn+
22%
52%
19%
10%
26%
Smartphone
users
Internet Penetration
(Active Users)
71%
Urban Internet Penetration
(Active Users)
$0.16
Cost Of 1GB
Internet
7K+
5G Enabled Indian
Cities/towns
395 Mn
Number Of Male
Internet Users
349 Mn
Number Of Female
Internet Users
Internet
users
Urban internet
users
Rural internet
users
2025 (E)
% Growth
(Absolute)
SOURCE: IAMAI, INC42 ANALYSIS

Ecommerce Market In India: A Snapshot
Market
Opportunity
(2030)
$400 Bn+
CAGR
(2022 to 2030)
19%
The Most
Lucrative
Segment (2030)
Fashion &
Apparel
$11 Bn+
Total GMV Of
Online Festival
Sales (2023)
Total Funding
(2014 to Q3 2023)
$33 Bn+
Funding CAGR
(2019 to 2022)
15%
Active Ecommerce
Startups
5.1K+
Funded Ecommerce
Startups
850+
Unicorns In
India
25
Soonicorns In
India
15
Combined
Valuation Of
Unicorns
$89 Bn+
Combined
Valuation Of
Soonicorns
$13 Bn+
MARKET OPPORTUNITY VENTURE CAPITAL UNICORNS & SOONICORNS
Source: Inc42

India’s Ecommerce Landscape
B2C ECOMMERCE B2B ECOMMERCE D2C RECOMMERCE ROLL UPS AFFILIATES
Source: Inc42
Note: This is not an exhaustive list

Ecommerce Market In India: Decoding The $400 Bn Market Opportunity
Market Size (2022)
$100 Bn+
$20 Bn+
$33 Bn+
$20 Bn+
$11 Bn+
$4 Bn+
$6 Bn+
$5 Bn+
Overall Ecommerce Market
Fashion & Apparel
Smartphones
Electronics & Appliances
Food & FMCG
Beauty & Personal Care
Furniture & Home Décor
Others
Market Size (2030)
$400 Bn+
$112 Bn+
$72 Bn+
$68 Bn+
$68 Bn+
$28 Bn+
$24 Bn+
$28 Bn+
CAGR (2022-2030)
19%
24%
10%
16%
25%
27%
19%
19%
Source: Inc42, BCG, Other secondary sources
Note: The market size depicted here is the estimated total addressable market for D2C players in India.

India To Have 500 Mn+ Online Shoppers By 2030
Paid users expected to grow at 12% CAGR from 2022-2030
0
100
200
300
400
500
2022 2023 2024 2025 2026 2027 2028 2029 2030
12%
Source: Inc42, Bain and Flipkart Report 2020

How Indian Ecommerce Startup Economy Stack Up Against The US & China
Total Funding (2014 to Q3 2023)
3-Year-Funding CAGR (2019-2022)
Number Of Unicorns
Number Of Online Shoppers (2030)
Market Opportunity (2030)
$33 Bn+
15%
25
500 Mn+
$400 Bn+
$70 Bn+
12%
28+
980 Mn+
$6 Tn+
$130 Bn+
70%
36+
300 Mn+
$1.5 Tn+
India China
USA
Source:Inc42, CB Insights, Failory

Indian Ecommerce Startup Ecosystem In Q3 2023
Total Funding Raised
Median Ticket Size Of Investments
$224 Mn+
$1.3 Mn+
Year-on-Year Decrease In Total Funding Amount
Year-on-Year Decrease In Median Ticket Size
-47%
-32%
Total Funding Raised At Seed Stage
Total Funding Raised At Growth Stage
$29 Mn+
$113 Mn+
Year-on-year Increase In Total Seed Funding Amount
Year-On-year Decrease In Growth Funding
11%
-47%
Source: Inc42

Top 10 Biggest Ecommerce Funding Rounds In Q3 2023
Startup Name Sector
D2C
D2C
D2C
B2C Ecommerce
D2C
B2B Ecommerce
D2C
Affiliate
D2C
D2C
Funding Stage
Late Stage
Growth Stage
Growth Stage
Late Stage
Growth Stage
Bridge Stage
Growth Stage
Bridge Stage
Growth Stage
Seed Stage
Investors
Round Size
$37 Mn
$35 Mn
$33 Mn
$23 Mn
$20 Mn
$10 Mn
$9 Mn
$6.7 Mn
$5 Mn
$4 Mn
Source: Inc42
Note: This table is based on the deals recorded in Inc42's internal database
Sujeet Kumar
N/A
Revant Bhate,Utkrishta Kumar,Asish Mohapatra

$33 Bn+ Raised By Indian Ecommerce Startups Since 2014
Cumulative
Funding
Amount
($
Bn)
Deal
Count
0.0
10.0
20.0
30.0
40.0
0
500
1000
1500
2000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Funding Amount ($ Bn) Deal Count
Source: Inc42

$224 Mn+ Raised By Indian Ecommerce Startups In Q3 2023
Compared to the previous year (Q3, 2022) both the funding amount and deal count plunged 47% and 26% respectively
Funding
Amount
($
Mn)
Deal
Count
0
2,000
4,000
6,000
0
25
50
75
100
125
Q
1
-
2
0
2
0
Q
2
-
2
0
2
0
Q
3
-
2
0
2
0
Q
4
-
2
0
2
0
Q
1
-
2
0
2
1
Q
2
-
2
0
2
1
Q
3
-
2
0
2
1
Q
4
-
2
0
2
1
Q
1
-
2
0
2
2
Q
2
-
2
0
2
2
Q
3
-
2
0
2
2
Q
4
-
2
0
2
2
Q
1
-
2
0
2
3
Q
2
-
2
0
2
3
Q
3
-
2
0
2
3
Funding Amount ($ Mn) Deal Count
Source: Inc42

Eyes Off Marketplaces: Investor Enthusiasm Moves Towards D2C And B2B Ecommerce
The dominance of two major players (Flipkart and Amazon) has played a significant role in diverting investor interest from
the saturated horizontal marketplace model
3-Year-CAGR
(2019-2022)
-40%
-20%
0%
20%
40%
60%
D2C B2B Ecommerce B2C Ecommerce (Marketplace)
Funding Amount Deal Count
Source: Inc42

D2C & B2B Ecommerce Emerged As The Most Funded Sub-Sectors Within
Ecommerce
190
(84.9%)
D2C B2B Ecommerce
Affiliates B2C Ecommerce
$224 Mn+
Funding Amount
25
(11.1%)
D2C B2B Ecommerce
B2C Ecommerce Affiliates
52+
Deal Count
7 (13.5%)
11 (21.2%)
33 (63.5%)
Source: Inc42

2023's Mega Deals: Investors Favor Fintech Over Ecommerce For Big Cheques
Investments
In contrast to 2021 & 2022, mega deals in ecommerce startups were 73% lower compared to fintech in 2023
Mega
Deal
Count
($100
Mn
or
above)
0
5
10
15
20
25
2015 2016 2017 2018 2019 2020 2021 2022 2023 (Q1-Q3)
Ecommerce Fintech
Source: Inc42

Median Ticket Size Of Indian Ecommerce Investments Drop By 32% YoY In
Q3 2023
From 2020 onward, ecommerce investments look better valued, contrasting with fintech's larger median ticket size
Median
Funding
Amount
($
Mn)
0.0
2.0
4.0
6.0
8.0
10.0
Q1-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023
Ecommerce Fintech Overall Ecosystem
Source: Inc42

Red Flags For Ecommerce Investments In Q3 2023, Yet Seed Stage Bucks The Trend
D2C startups accounted for 54% of all investment deals in the ecommerce sector, signaling the sustained long-term growth
potential in the Indian D2C market
Funding Amount
Investment Stage YoY Change %
$29 Mn+
Growth Stage
Bridge Funding
Deal Count
28
+11%
YoY Change %
-13%
$22 Mn+ 8
-40% -50%
$78 Mn+ 12
-63%
-37%
-20%
$95 Mn+ 3 -50%
Source: Inc42
Seed Stage
Late Stage

Delhi NCR & Bengaluru Were The Top Ecommerce Startup Hubs In Q3 2023
D2C brands were the most popular choice among investors in both Delhi NCR & Bengaluru
Deal Count
Top
5
Startup
Hubs
Delhi NCR
Mumbai
Bengaluru
Ahmedabad
Pune
0 5 10 15 20
Funding Amount ($ Mn)
Top
5
Startup
Hubs
Bengaluru
Mumbai
Delhi NCR
Pune
Ahmedabad
0 25 50 75 100 125
Source: Inc42

136+ M&As Recorded By India Ecommerce Startups Between 2014 & Q3 2023
Cumulative
M&A
Deal
Count
0
50
100
150
2015 2016 2017 2018 2019 2020 2021 2022 2023 (Q1-Q3)
Source: Inc42

Comparative Growth: Q3 2023 Reveals An Uptick In M&As Among Indian
Ecommerce Startups
Compared to Q2 2023, ecommerce startups recorded 2.2x higher deals in Q3 2023
M&A
Deal
Count
0
5
10
15
20
25
Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q3-2023
Source: Inc42

Investors Backing Indian Ecommerce Startups In Q3 2023
Startup Name Investor Type
VC Firm
VC Firm
Accelerator/Incubator
VC Firm
Accelerator/Incubator
VC Firm
VC Firm
VC Firm
Angel Fund
VC Firm
Notable Startups Funded
Deal Count
2
3
3
3
2
3
3
2
2
3
Source: Inc42
Note: This list isn't a ranking of any kind.

KHANAZ
K.A
CXO - Simpl
Consumer Trust — The Biggest
Frontier Of Growth For D2C Brands
Trust is the foundation of commerce. Commerce only happens when trust is established between buyer, seller and the
product. In conventional brick-and-mortar commerce, trust is built through physical interactions and relationships.
Ecommerce is obviously different, disruptive to the traditional “first trust, then buy” format of commerce. It is structurally
built on “buy first and then trust” principle. If your brand website were a physical retail store, your customers have to pay
before they can go to the trial room. Fixing this is at the heart of unlocking ecommerce’s full potential.
In ecommerce, where virtual touchpoints replace face-to-face interactions, the foundation of trust has to be built through
deliberate interventions, both tactical and strategic. Every aspect matters – from the content on the website to the
seamless experience offered by the checkout process, from the quality of the customer service to the endorsements from
influencers. Each touchpoint becomes an opportunity to build and reinforce trust with your consumers.
As of April 2023, Amazon led as the top global online marketplace with 4.8 Bn monthly visits and over 250 Mn loyal Prime
members who account for the lion’s share of their GMV. They did this by investing billions of dollars over decades in
establishing a predictable, standardised consumer-backwards platform - from UX, pricing, delivery, payments, and buyer
protection. With Amazon, you always know where to go and what to expect if you have an order issue, payment failure or
defective product. Predictability is how you win trust.
However, for D2C brands, marketplaces are a double-edged sword. At the same time, it gives you immediate scale; building
brand and customer loyalty is almost impossible. D2C brands need to offer a similar, if not better, ‘trust first’ experience as
marketplaces to improve conversions on your website. Crucial considerations for D2C brands seeking to establish trust
include:

Website User Interface
Your website's user interface acts as the main entry point for customers to understand your offerings and why they should choose you directly. Think of your website as your
physical store, the shopping experience in a store directly impacts the conversions. Designing for trust means building a user journey prioritising customer experience from
discovery, checkout and post-purchase. Over-indexing key trust markers like return and refund policies, integrating your influencer content on the website, verified honest customer
reviews etc. Thoughtful, high-resolution website design and product images are synonymous with “authenticity” and hence “trust” in the consumer’s mind.
0°
Effective Customer Relationship Management (CRM)
Acquiring a new customer costs five times more than retaining an existing one. To maximise this, gather data from various sources (email, social media, websites) and centralise
it. Leverage each stage of the customer lifecycle as a unique marketing opportunity, crafting tailored campaigns like welcome, abandoned cart, dormant customer, and feedback
journeys. A CRM with a journey builder streamlines this process. The right CRM links front and back-office applications, granting a comprehensive customer view. Leverage this
capability within your D2C brand to demonstrate genuine care for your customer's needs, fostering trust and loyalty.
A Seamless, Trusted Checkout Process
Every new customer on a D2C website/app has to create an account, fill in addresses and pay before they have a conviction on the brand. They don't know if their payments are
secure and what to do if something were to go wrong with their order. On marketplaces, these are standardised and predictable. The average cart abandonment rate on a D2C
website is 70%, of which almost half are abandoned due to high friction (account creation, address etc).
That is where full-stack checkout and post-checkout solutions like Simpl help. Simpl is a decentralized marketplace that enables a standardized 1-tap checkout across its network
of 24,000 merchants. Powered by Simpl’s proprietary khata products consumers are able to shop across its network in 1-tap without having to login every single time on a new
brand and enter address, payment details and OTP. Once the order is placed customers can track their orders and seek issue resolution through Simpl’s AI enabled customer
support ecosystem. Brands that use Simpl have seen up to 87% increase in conversions and 66% reduction in returns ad up to 34% increase AoVs across 55 different categories.
Simpl now powers nearly 1,000 D2C brands across 55 categories such as fashion, footwear, personal care, wellness, travel, home decor, electronics and more.

Using AI For Conversational Commerce
AI helps suggest additional items for purchase based on what customers have browsed or bought before. This digital
shift has made it quicker for customers to decide what to buy, leading D2C brands to focus on creating smooth shopping
experiences across different websites and apps. In D2C marketing, new technologies like automated chatbots have cut
down waiting times, making it easier to get and keep customers. For instance, when shopping for clothing, AI can assist
customers in selecting the accurate size by utilising measurements, streamlining the decision-making process, and
clarifying return policies. Another case in point is Lenskart, which revolutionised the eyewear industry through
tech-driven innovations.
0°
Data Reporting And Visualisation
Selling products directly to consumers means you get important information about customers and products. However,
understanding this data is crucial. It uncovers hidden insights which helps build innovative strategies that meet
customer needs.
Having explored the technological aspects, let's delve into effective marketing and strategies that
foster stronger communication and trust with consumers.
Performance Marketing Or Inﬂuencer?
With around 70% of D2C brands actively engaged on social media platforms, it's essential to consider our audience's limited screen time. Every brand vies for a share of this time,
whether through performance marketing or influencer collaborations. An important aspect of marketing is the creatives used in the process, just talking about the product might
not be enough, it gets important to educate your customer on why your product is best suited to deliver what it promises to do.
Using Influencers to market your product has proven to be a great way to build trust. Influencers often share their honest opinions and experiences with their followers, which can
help potential customers feel more confident about their purchasing decisions. This type of content is often more relatable and authentic than traditional advertising, which can
help build trust with potential customers.

Building A Community For Yourself
Creating a community is important for gaining brand supporters. Nykaa did this well. They built a lively
community of beauty lovers online. With 17 Mn users each month and over $247 Mn in revenue in FY21, Nykaa
became a trusted place for beauty advice and products. Using platforms like Instagram, Facebook, and
YouTube, Nykaa shared useful content, earning the trust of loyal customers who relied on their suggestions.
This approach made Nykaa a leading beauty and wellness platform in India.
In conclusion, there's no one-size-fits-all strategy for success in the D2C market. Yet, by implementing
effective strategies and utilising the right tools for marketing, analytics, AI, and continuous innovation, brands
can pave the way for trust, profitability, and sustained growth.
0°
Storytelling, Content Marketing & User-Generated
Content
Crafting an impactful narrative and embracing thought leadership is pivotal for your brand's identity. Engage
your audience through compelling storytelling, content marketing, and user-generated content. Utilise various
mediums like blogs, videos, infographics, and social media to educate, entertain, and forge connections.
Establish yourself as an authority in your industry by delivering engaging and informative content that
resonates with your audience. This approach will not only strengthen your brand's identity but also build
lasting connections with your audience.
For instance, Mamaearth, which specialises in natural baby and mother care products, effectively amplified its
reach and credibility through strategic influencer partnerships. While influencer collaborations helped boost
credibility, leading brands also attract consumers through performance marketing tactics. Hence, this area
demands experimentation for brands to align their objectives and strategies accordingly.

State Of Ecommerce Unicorns & Soonicorns In India
Ecommerce Unicorns
Combined Valuation
Combined Total Funding
25
$89 Bn+
$28 Bn+
Top
Hubs
Ecommerce Soonicorns
Combined Valuation
Combined Total Funding
15
$5.6 Bn+
$2.2 Bn+
09
05 B2B Ecommerce
04 D2C
Top
Subsectors
07 D2C
04 B2B Ecommerce
03 B2C Ecommerce
Top
Subsectors
14 Delhi NCR
06 Bengaluru
03 Mumbai
TopHubs
07 Mumbai
04 Bengaluru
03 Delhi NCR
Source: Inc42
B2C Ecommerce

CarTrade is the best performing Indian ecommerce stock this calendar year
Stock Performance Of Listed Indian Ecommerce Companies
NYKAA
INDIAMART
₹171.50
₹2,809.35
+₹16.35
+₹645.67
10.54%
29.84%
MAMAEARTH
CARTRADE
₹420.70
₹767.75
+₹83.60
+₹292.65
29.80%
61.60%
Last Traded Price (LTP) (YTD) Price diff. (YTD) % change
80%
60%
40%
20%
0%
-40%
-20%
FEB 2023 MAY 2023 JUN 2023 AUG 2023 OCT 2023
DAILY
STOCK
PRICE
CHANGE
%
Source: NSE, Inc42 calculations
Note: YTD data is up to 19 December 2023

India’s Online Festive Sales 2023: Key Highlights
$11 Bn+ Total Gross Merchandise Value
20% Three Year CAGR Of GMV
Electronics Most Sought After Category
Value For Money Decisive Factor For Purchase Decision Making
Delivery Experience Key Concern For Shoppers
55% Online Shoppers Were Satisﬁed With Deals Offered by Flipkart
43% Online Shoppers Were Satisﬁed With Deals Offered by Amazon
Source: Inc42 Analysis, Clootrack, Redseer

$11 Bn+ GMV Of Indian Online Festival Sales In 2023
The GMV of online festival sales is growing at a three year compounded annual growth rate of 20%
Total
GMV
($
Bn)
0
2
4
6
8
10
12
2020 2021 2022 2023
CAGR: 20%
Source: Redseer
Note: Festive sales months are from October first week to Diwali for all years | INR to USD exchange rate is 80 for all years

Most Popular Categories During Online Festive Sales
Top Product Category
Smartphone
Women's apparel
Furniture
Skincare
Large appliances
Toys
-
Electronics
Fashion
Home Furnishings
Beauty & Personal Care
Appliances
Toys & Games
Others
Total GMV (2023)
$4.7 Bn
$2.8 Bn
$1.1 Bn
$904 Mn
$791 Mn
$565 Mn
$339 Mn
% Share
42%
25%
10%
8%
7%
5%
3%
Electronics emerged as the most popular category, fueled by the demand for smartphones and television, which accounted
nearly half of the total sales during the festive season
Source: Inc42 Analysis, Redseer, Other Secondary Sources
Note: Festive sales months are from October first week to Diwali for all years | INR to USD exchange rate is 80 for all years

Online Festive Sales 2023: What Drives Customer Attention?
Indian online shoppers prioritise value for money over massive discount offers
Delighters: Customer Sentiment Score (0 to 10)
Price & Value
Customer Satisfaction
Discount Offer
0 2 4 6 8
Source: Clootrack, Inc42 Analysis
Note: This analysis is based on reviews of 18K+ Indian online shoppers between October 1 and November 29, 2023 | Zero represents a negative sentiment, while ten signifies a positive sentiment

Online Festive Sales 2023: What Drives Customers Away?
71% customer reviews showed dissatisfaction with this year's online festival sale delivery
Concerns: Customer Sentiment Score (0 to 10)
Delivery Experience
Customer Care
Return & Refund
Web/App Experience
Order Cancellation
0 2 4 6 8
Note: This analysis is based on reviews of 18K+ Indian online shoppers between October 1 and November 29, 2023 | Zero represents a negative sentiment, while ten signifies a positive sentiment
Zero represents a negative sentiment, while ten signifies a positive sentiment

Festive Sales 2023: Meesho Emerges As The Go-To Place For Value Deals
Indian online shoppers preferred Flipkart over Amazon for better value-for-money deals this festival season
Positive Sentiment
Overall Market
Marketplace Negative Sentiment
43%
Neutral Sentiment
7%
50%
55% 7%
38%
77% 4%
19%
31%
64% 5%
Note: This analysis is based on reviews of 18K+ Indian online shoppers between October 1 and November 29, 2023

Most Ecommerce Giants Fail To Provide Delightful Delivery Experience
Poor customer feedback on delivery from market leaders hampers overall online festival sales experience
Positive Sentiment
Overall Market
7%
9%
21%
42%
28%
11%
Neutral Sentiment
17%
16%
16%
13%
11%
18%
76%
75%
63%
45%
61%
71%

Festival Sale 2023: More Than Two-Third Indian Shoppers Left Disappointed With Return & Refunds
None of the major ecommerce giants analysed provided satisfactory product return/refund experience during online festival sales
Positive Sentiment
Overall Market
3%
Neutral Sentiment
27%
70%
3% 24%
73%
9% 23%
68%
71%
5% 24%

Most Ecommerce Giants Fail To Provide Delightful Delivery Experience
Poor customer feedback on delivery from market leaders hampers overall online festival sales experience
Positive Sentiment
Overall Market
27%
33%
56%
35%
41%
Neutral Sentiment
5%
34%
3%
4%
5%
68%
63%
41%
61%
54%

Key Growth Drivers Of Online Festival Shopping In India
Internet & Smartphone Adoption
India has the world's second-largest internet and smartphone user base, just behind China. The current active internet user market is over 759 Mn and is
expected to reach 900 Mn by 2025.
Growing Online Shoppers
India has 225 Mn+ online shoppers (30% of active internet users), projected to reach 500 Mn+ by 2030 at a 12% annual rate. Notably, 60% of new online
shoppers are from Tier-3 and smaller cities.
Growing Household Income
In 2019, 33% of Indian households had an annual income exceeding INR 5 lakhs. By 2030, this is projected to rise to 49%, equivalent to 173 Mn households.
Young Workforce
India, with 349 Mn individuals under 25, presents a lucrative market for ecommerce and consumer internet segments due to rising household income and
internet usage.
Festival Season Offers
The fact that the sale offered by leading ecommerce marketplaces during this time has been marketed as a celebration over a recurring event. The Indian
shoppers have developed a degree of stickiness toward this, 39% of Indian shoppers surveyed in 2023 expressed their intention to shop during big online
sales during the diwali season.
Availability Of 3PL
The supply chain of Indian ecommerce businesses has been improved and broadened by modern startups like Shiprocket and Delhivery among others, which
provide integrated logistics solutions for online businesses of varying sizes

www.inc42.com
Contact: editor@inc42.com
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From breaking the latest news to discovering the hottest startups,
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CREDITS
SANDEEP SINGH
ANALYST
Inc42 Media, 59/16, 4th Floor, Jujhar Tower,
RD Marg, Kalkaji, New Delhi, Delhi 110019
ADDRESS
SABITH
DESIGN

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