Indian Startups Attracting Top Executives From Big Firms
- ByStartupStory | June 25, 2021
As they continue to expand, Indian Startups attracting top executives from Big Firms. The past two quarters have seen an exodus of C-suite executives from large companies to startups that had better set up, to attract top talent in the post-pandemic world. Large enterprises accounted for 69% of tech C-suite exits and 63% of non-tech C-suite exits, according to a survey of 200 companies by specialist staffing firm Xpheno, which was recently released to the media. Seed-stage investment firm Orios Venture Partners has raised $30 million in additional capital to exclusively back its high-growth, standout portfolio companies. This is a trend now widely seen among small-size domestic early venture capital funds.
Startups attracted about 65 % of the non-tech movements studied. They accounted for 20% of tech C-suite exits and absorbed 27% of those who joined different companies in this quarter. This was mainly due to increasing possibility of wealth creation, rising number of liquidity events and buybacks of shares issued to employees over the last year, which attracted CXO talent from large enterprises to startups. CareerSocially, an AI-enabled proptech startup, is acquiring Bengaluru-based property discovery portal Housingman, as part of a million-dollar funding deal. Months after putting off its plans to sell Luminous Power Technologies, French electrical group Schneider Electric India has decided to pump in more money into the power backup and storage solutions provider on the back of strong business performance amid the pandemic.
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