Investments by Bollywood celebrities in startups came down sharply in the current calendar year to $3.6 million against $28.5 million last year, data shared by Tracxn showed. In 2022, such investments stood at $87.9 million in 2022.
Speaking about the declining trend, Neha Singh, co-founder of Tracxn said, “recent macro-economic headwinds that have made investors cautious in their investments, including celebrities”. This was echoes by Harish Bijoor, brand strategy specialist and founder of Harish Bijoor Consults, who said, “They are really not yet out there with a risk mentality that a typical investor puts into the market”.
“The inherent risks associated with startups, coupled with heightened market competition, have resulted in unsatisfactory investment returns for certain celebrities,” said Sameer Jain, managing director at consulting firm Primus Partners.
According to Tracxn’s data, the highest such funding amount in 2022 was $27.7 million, which was raised by Bengaluru-based Virgio and saw participation from Saif Ali Khan. In 2023, Kajal Aggarwal participated in the highest funding round of $12.2 million, raised by Gurugram-based The Ayurveda Co (TAC).
In 2024, the highest such round was a much lower $2.2 million, raised by Gurugram-based Proxgy. It saw participation from Suniel Shetty.