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Anil Joshi, managing partner of Unicorn India Ventures, said investment firms like his search for good companies in Tier II and III cities because they tend to focus on solving problems that exist around them.
Investors feel Kerala-based startups have a poor understanding of market size, which, coupled with lack of ambition, has resulted in projection of disproportionate valuation by many founders.
The path for each startup is somewhat different, as is the timeline for funding.
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