An Economic Times article quotes Venture Intelligence data in the consolidation of startups:
There were 28 M&A deals in the first eight months this year vis-a-vis 32 in the whole of last year, according to Venture Intelligence.
The article also quotes:
Deepak Natraj, Managing Director, Aarin Capital
"It's a clear case of consolidation. In many cases, the target companies are sub-optimal businesses, not having enough capital to expand their business verticals."
Anil Joshi, Managing Partner at Unicorn India Ventures
"Too many companies in the same space doesn't provide enough room for them to play. Also, the market is still nascent and not ready to absorb too many companies."
Sujayath Ali, Co-Founder, Voonik.com
"The sweet-spot for any startup M&A deal is technology. Most deals are struck for want of technological capabilities."
In a study of Bridge rounds in India, Venture Intelligence identified
"More than 250 startups, which between them have raised over $600 million in Seed/Series A funding, are now "overdue" to raise new money (ie, it's now 12+ months since their last round)."
Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India.