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.