Indian Startup Funding Falls To $1.7 Bn In Q3 2023

Indian Startup Funding Falls To $1.7 Bn In Q3 2023

SUMMARY

Indian startups raised only $7 Bn between Q1 and Q3 2023 in comparison to $22 Bn raised in the same period in 2022 and $27 Bn in 2021

In Q3 2023, seed stage startup funding continued to spiral downward recording only $159 Mn, a 55% YoY fall

Delhi NCR and India’s own Silicon Valley Bengaluru were seen locking horn when it came to the funding amount raised by startups and the number of deals secured

Call it the impact of the ongoing funding winter or the end of funding mania that the world’s third-largest startup ecosystem is experiencing back-to-back corrections in the form of valuation cuts and a decline in capital infusion and deals.“Once this starts to happen, it’s possible to see more soonicorns and unicorns emerging in the next 18 months in the Indian startup ecosystem,” Pai added.

While several unicorns, including Swiggy, BYJU’S, Meesho, and PharmEasy, have lately witnessed substantial valuation cuts in the books of their respective investors, many others are left with no choice but to layoff, shut down, or get acquired, as investors continue to shy away from deploying dry powder, fearing cash burns.

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