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- 📝 VCs searching rural India for Unicorns
📝 VCs searching rural India for Unicorns
Liam Gill
June 27, 2024
In partnership with
News of the Day
Accel, a leading investor in e-commerce and marketplaces in India, is shifting its focus to smaller towns and villages, collectively referred to as “Bharat,” in search of the next wave of unicorns. Despite many startups struggling to penetrate these regions, Accel sees significant market potential, estimating that the top 20-30% of rural spenders account for over $250 billion. This pivot is driven by improved infrastructure, increased smartphone and internet adoption, and growing consumer aspirations in rural areas. While previous attempts by startups to serve smaller cities often faltered due to misaligned urban strategies and entrenched local business practices, Accel believes that mindful, tailored approaches can unlock substantial opportunities in these underrepresented markets.
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Founders, always shop your term sheet.
I don't care what VCs say is right or wrong.
I've seen too many founders rely on a term sheet in the last 6 weeks just to have the VC back out in DD, delay funding timelines, or renegotiate terms.
Competition keeps markets in check.
— Liam Gill (@LawyerLiam)
11:00 PM • Jun 14, 2024
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Onwards and Upwards,
