HomeStartupFunding for Indian startups declined 72% in 2023

Funding for Indian startups declined 72% in 2023

Published on

spot_img
FREE 4+ Startup Funding Proposal Samples in PDF | MS Word | Apple Pages |  Google Docs
  1. Indian tech startup funding in 2023 plunged by 72%, totaling only $7 billion compared to $25 billion in the previous year, marking the lowest funding in five years.
  2. Funding declined across all stages: late-stage funding dropped over 73%, early-stage funding decreased by 70%, and seed-stage funding saw a 60% decline.
  3. India’s global ranking in tech funding dropped to 5th place in 2023, down from its previous position, with the last quarter (Q4) recording the lowest funding of $957 million since Q3 2016.
  4. Late-stage funding plummeted significantly by over 73%, from $15.6 billion in 2022 to $4.2 billion in 2023, affecting sectors like FinTech.
  5. Retail and Enterprise Applications sectors also faced funding decreases of 67% and 78%, respectively, compared to the previous year.
  6. The report highlighted investor interest in environment technology ($1.2 billion funding) and SpaceTech ($122 million raised) sectors due to government support for sustainable development goals and economic growth efforts.
  7. Only two unicorns emerged in 2023 (Incred and Zepto) compared to 23 in the previous year, signaling challenges in achieving substantial valuation and growth.

Latest articles

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...

AI Model Backed by Mukesh Ambani to Launch in March

A consortium backed by Mukesh Ambani’s Reliance Industries Ltd. and India’s top engineering schools...

More like this

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...