India, March 3 -- Between disinterested foreign institutional investors, geopolitical tensions and uneven consumption, February remained mostly gloomy for the Indian markets.

Unsurprisingly, the bear on the prowl took its toll on the Indian startup economy, too, as funding plummeted. Homegrown new-age tech ventures could raise about $636 Mn last month (February), which is nearly half of what Indian startups raised a month ago (in January).

However, despite the subdued trends headlining news cycles, the world's third-largest startup ecosystem continued to forge ahead, banking on its oft-quoted mantra of innovation, entrepreneurship and frugality.

What caught our eye in February was that many former top executives stood up to make a mark...