EY & Upekkha's Bellwethers
of Indian SaaS Report

This report unravels the story of India SaaS in this stormy weather.

With capital efficiency at the heart of the operation, will Indian B2B companies sink or swim?

‍Insights from the survey of Indian B2B SaaS CXOs by Upekkha and EY

The bullish growth outlook is balanced by financial and operational prudence, reflecting strong focus on building and scaling capital-efficient businesses.

SaaS built from India for the world is highly capital efficient by default.

Most Indian SaaS companies have a burn multiple of 1.5x (globally <2x is considered a good state for growth stage).

The bellwethers of Indian B2B SaaS are clearly focused on ‘sustainable growth’ vs. ‘growth at all cost.’

We hope the findings of the EY-Upekkha report will bring a fresh perspective to India SaaS founders and turn the attention of global investors toward Indian SaaS ever more strongly.

Upekkha Authors and Contributors

Thiyagarajan Maruthavanan (Rajan), Managing Partner, Upekkha‍
Divya Ajitsaria, Head of Marketing‍
Mohamed Yoosuf, Manager, Marketing‍
Minakhee Mishra, Senior Editor & Content Manager‍
Kavya Shastry, Communications Manager‍
Jaya Malhotra, Content Associate
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‍Download the full report to understand the drivers and differentiators of India SaaS.