Akshata Sharma
Share
Prosus has poured in more than $7 Bn into Indian startups so far mostly through large ticket sizes and investments in unicorns. But with some of its largest bets in turmoil, the focus has now turned to seed and early stage investments
* The biggest dent in Prosus' India plans has come from #BYJU'S, a $500 Mn+ investment which has now been written off.
* Besides this, the likes of Swiggy, Pharmeasy, Meesho, The Good Glamm Group and others in its India portfolio are grappling with losses, with Urban Company being an exception of sorts.
* The $118 Mn investment in Pharmeasy, has also been marked down, and Prosus was left with no option other than to participate in Pharmeasy's rights issue this year which valued the company at a 90% discount.
* Fashion ecommerce marketplace Fashinza, where Prosus co-led a $100 Mn funding round in 2022, is now reportedly planning to return money to its investors after its business model found no footing.
* The investor also wrote off its $38 Mn investment in Zestmoney last year, when the company shut down due to operational challenges.
* Further, Prosus' only agritech bet in India, Dehaat is challenged with cash flow, internal control issues with losses having soared by 94% to INR 371 Cr in FY23 as the overall B2B marketplaces witness a sluggish growth.
--Advertisement--
