Funding secured by startups hit a seven-year-low in 2023, backsliding to 2017 levels
On a year-on-year basis, both funding amount and deal count witnessed a substantial decline, plummeting by 60% and 40% YoY, respectively, in 2023
Despite the gloom, investors continued to foster their faith and confidence in the world’s third-largest startup ecosystem
The capital drought continued to create considerable headwinds for the Indian startup ecosystem in 2023 as well, putting a dampener on funding raised by new-age tech companies and slowing down the launch of new ventures.
Funding secured by startups hit a seven-year-low in 2023, backsliding to 2017 levels. As per Inc42 data, Indian startups raised a mere $10 Bn across 897 deals last year, down from the $13 Bn raised across 996 deals in 2017. As evitable, the YoY investor participation in startup funding deals also witnessed a major decline.