India’s First Internet Founders Bet on New Ventures

The Story in Brief

Deepinder Goyal and other founders of India’s first consumer internet companies are starting businesses in new sectors. Goyal’s Temple, a neuroscience venture spun out of Continue Research, is testing a device on about 100 volunteers. Investors have committed $54 million, including $11.5 million from Goyal, valuing Temple at $190 million, Business Today reports. He has also co-founded LAT Aerospace, which is developing autonomous hybrid-electric aircraft for regional routes.

Aman Gupta is building talent agency OffBeat Studios, while Mukesh Bansal is working on enterprise AI firm Nurix AI. PharmEasy’s co-founders are developing home-improvement platform AllHome. Their moves reflect tougher competition in established consumer internet categories, where scale and consolidation have left less room for new challengers.

The Indian Opinion

The lazy story is that these founders are simply chasing the next fashionable sector. The opposite claim, that consumer internet is finished, is also too broad. Their choices suggest experience is being redirected towards harder problems and less crowded markets, but early funding and founder reputation do not prove a workable product. Temple’s science, AllHome’s execution and LAT Aerospace’s aircraft will need evidence beyond valuations. Will users, customers and regulators validate these bets?

Source: businesstoday.in

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