Ecommerce Startup Funding In 2023 Tanks 32%, D2C Leads The Show

Ecommerce Startup Funding In 2023 Tanks 32%, D2C Leads The Show

SUMMARY

According to Inc42’s latest “Indian Startup Funding Report 2023”, Indian ecommerce startups raised $2.6 Bn during the year, down 32% from $3.8 Bn raised in 2022

Ecommerce led the charts as the top-funded sector in 2023 in terms of the number of deals. In terms of funding amount, the ecommerce sector took the second spot after fintech

Overall, the ecommerce funding returned to 2019 levels when the sector raised a total of $2.5 Bn across 130 deals

India’s ecommerce market, which is projected to hit $400 Bn by 2030, experienced a notable contraction in startup funding in 2023. According to Inc42’s latest “Indian Startup Funding Report 2023”, Indian ecommerce startups raised $2.6 Bn during the year, down 32% from $3.8 Bn raised in 2022.

Meanwhile, the deal count, too, declined 33.6% to 192+ from 288+ a year ago. Overall, the ecommerce funding returned to 2019 levels when the sector raised a total of $2.5 Bn across 130 deals.

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