BENGALURU: The funding winter in India’s startup ecosystem is much from over. Indian tech startups raised $7 billion this 12 months, its lowest within the final 5 years. It is a sharp drop of 72% as towards $25 billion it raised within the corresponding interval final 12 months, confirmed information from market intelligenceplatform Tracxn’s Geo Annual Report: India Tech 2023.Bengaluru, Mumbai, and Delhi-NCR are the top-funded cities in India to this point.
With $7 billion in funding to this point, the report mentioned India dropped to the fifth spot from the fourth, when it comes to the highest-funded geographies globally this 12 months. The December quarter (This fall) recorded the bottom funding of $957 million thus far, marking it the lowest-funded quarter because the September quarter of 2016.
The decline is primarily as a result of sharpest drop in late-stage funding — by over 73% to $4.2 billion in 2023 from $15.6 billion in 2022. The variety of $100 million rounds had been solely 17, dropping by 69% in comparison with final 12 months. Fintechs obtained $2.1 billion in funding this 12 months, a lower from $5.8 billion from the corresponding interval final 12 months. PhonePe, for example, secured a complete of $750 million which made up for 38% of the funding obtained by the sector. Perfios, Insurancedekho, and Kreditbee, are a number of the different top-funded firms within the sector this 12 months.
LetsVenture, Accel and Blume Ventures have topped the listing of most energetic traders in 2023 thus far. Two new unicorns had been created; Incred and Zepto as towards 23 within the earlier 12 months. Nonetheless, the variety of IPOs dropped to18 tech firms going public in 2023 until date as in comparison with 19 in 2022. Ideaforge and Mamaearth went public this 12 months.
With $7 billion in funding to this point, the report mentioned India dropped to the fifth spot from the fourth, when it comes to the highest-funded geographies globally this 12 months. The December quarter (This fall) recorded the bottom funding of $957 million thus far, marking it the lowest-funded quarter because the September quarter of 2016.
The decline is primarily as a result of sharpest drop in late-stage funding — by over 73% to $4.2 billion in 2023 from $15.6 billion in 2022. The variety of $100 million rounds had been solely 17, dropping by 69% in comparison with final 12 months. Fintechs obtained $2.1 billion in funding this 12 months, a lower from $5.8 billion from the corresponding interval final 12 months. PhonePe, for example, secured a complete of $750 million which made up for 38% of the funding obtained by the sector. Perfios, Insurancedekho, and Kreditbee, are a number of the different top-funded firms within the sector this 12 months.
LetsVenture, Accel and Blume Ventures have topped the listing of most energetic traders in 2023 thus far. Two new unicorns had been created; Incred and Zepto as towards 23 within the earlier 12 months. Nonetheless, the variety of IPOs dropped to18 tech firms going public in 2023 until date as in comparison with 19 in 2022. Ideaforge and Mamaearth went public this 12 months.
