The percentage of growth and late-stage companies focusing on profitability rather than growth has come down to 14% in 2022 from almost 35% in 2021.

The development comes barely a week after a dozen edtech firms came together to create and adopt a self-regulatory code of conduct.

India added the most unicorns in the fintech sector last year, followed by e-commerce, SaaS, and health-tech.

Even as several NFT concerns loom in the South Asian nation, an increasing number of NFT startups are now on the rise.

India is creating a regulatory framework for online education companies to prevent a monopoly and the exploitation of students.

Between 2016 and 2021, local fintech firms raised over USD 16.5 billion, of which 60% of the capital flowed in the last three years.

BigBasket is reportedly working to roll out an express delivery service called BB Now to catch up with its existing and new rivals—all of which are now focusing on quick commerce.

In this round of India Digest from December 31, 2021 to January 6, 2022, read our big story of the week, the weekly buzz, and more.