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Funding Taps Run Dry: Startup Funding Tanks To A 5-Year-Low In Jan 2024

Inc42 · 1y

In January 2024, the funding for Indian startups hit a five-year low, declining by 47% YoY to $512 million. The number of deals also decreased from 81 to 68. Fintech startups dominated the funding landscape, securing $166 million and accounting for a third of the total funds raised. Hyderabad surpassed Delhi NCR as the second top startup hub, securing a funding of $82 million. Late-stage startups were the most affected, with a 76% decline in funding. However, growth-stage startups saw a 35% YoY increase in funding.