Dark
Light
Today: May 19, 2024
December 21, 2023
1 min read

Startup funds plummet 66%, hitting a mere $6.9 billion Jan-Nov.

Key Points:

  • Startups in India raised $6.9 billion in VC funding during January-November 2023, a 65.8% drop in value compared to the previous year.
  • The US startup ecosystem also saw a decline in VC funding during the same period, with 6,307 deals worth $104.5 billion.
  • India accounted for 5.5% of global VC funding deals and 3.1% of disclosed deal value.
  • Despite the funding challenges, startups in India remain attractive to VC firms.

India’s startup ecosystem continues to experience a funding winter, with startups in the country seeing a significant drop in venture capital (VC) funding. According to a report by GlobalData, startups in India raised $6.9 billion in VC funding across 1,013 deals from January to November 2023. This reflects a 65.8% decrease in value compared to the previous year.

The decline in VC funding is not unique to India, as the US startup ecosystem also saw a decline during the same period. The US recorded 6,307 VC deals worth $104.5 billion, representing a 42% decline in deals volume and a 44% decline in deals value year-on-year.

Despite the decreasing funding, startups in India remain attractive to VC firms. Some of the top VC funding deals include PhysicsWallah raising $250 million, Perfios Software Solutions raising $229 million, PhonePe raising $200 million, Zepto raising $200 million, and Zetwerk raising $120 million.

The report also highlights that the total VC funding value in India is yet to reach the $10-billion mark, indicating the impact of the funding winter. However, VC firms continue to see India as an attractive market and are willing to invest in promising companies.

In conclusion, the drop in VC funding for startups in India and the US reflects a broader trend of a funding winter in the global startup ecosystem. Despite the challenges, startups in India remain attractive to VC firms, indicating the potential for future growth and funding opportunities.

Previous Story

2024: Unveiling the Future of Digital Health Investment!

Next Story

The life sciences champions: Top 5 mighty venture capital movers!

Latest from Blog

IDLC VC Invests in Innovative Mapping Startup Barikoi

TLDR: IDLC Venture Capital invests in mapping solutions startup Barikoi to enhance location-based services and geospatial mapping in the digital economy. Barikoi, founded in 2018, offers accurate and up-to-date mapping data to
Go toTop