Funds grow more cautious with startups
Greek startups posted a funding record in 2021, raising more than $1 billion in a year that proved to be “golden” at the international level for technology companies.
However, inflation, the increase in borrowing costs, the looming recession and the geopolitical developments of the last few months have caused uncertainty among firms but also among investors, with the latter advising startups to manage their capital wisely. Startups need to move “from the notion of growth at all costs and transition to the reasoning of let’s survive to thrive,” Andreas Stavropoulos, a partner at Threshold Ventures and a member of the TAIPED and Endeavor Greece boards of directors, tells Kathimerini.
This environment will also be reflected in the funds expected to be raised by Greek startups this year, which are showing a 20%-40% slowdown, despite the strong momentum displayed by the sector at the beginning of the year with the acquisition of 49% of Viva Wallet by JP Morgan and its emergence as a unicorn, according to the “2021 Greek-Tech Ecosystem Insights & Predictions for 2022” survey, conducted by Endeavor Greece.
