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Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData

Livemint

Livemint · 1y ago

Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData

Indian startups have experienced a significant drop in funding, with a decrease of 65.8% in terms of value between January and November 2023. The startups raised $6.9 billion in VC funding this year, compared to $20.2 billion in the same period last year. Only two new unicorns have been created in India this year, compared to 24 in 2022. India now ranks fourth among the highest-funded tech startup geographies globally, with a total funding of less than $10 billion.

Related News

Startups Outlook 2024: Rebound likely next year, funding pace to remain slow

Livemint

Livemint · 1y ago

Startups Outlook 2024: Rebound likely next year, funding pace to remain slow

According to a report by GlobalData, Indian startups witnessed a 65.8% drop in funding in 2023. However, experts remain optimistic about the future, citing favorable government policies, India's expanding economy, and ongoing infrastructure developments as factors that position the startup landscape for a brighter future. Despite the current funding winter, there is cautious optimism about a potential rebound in 2024. The emergence of Zombie VCs (Venture Capital) and an increase in tech startups heading towards IPOs are expected trends in the coming year.

Over 100 Indian startups laid off more than 15,000 staff this year: Report

Livemint

Livemint · 1y ago

Over 100 Indian startups laid off more than 15,000 staff this year: Report

According to Layoffs.fyi data, over 100 Indian startups laid off more than 15,000 employees in 2023 due to the funding winter. Byju's, an ed-tech startup, had to lay off 2,500 employees and its founder, Byju Raveendran, pledged his home to raise funds for salaries. The economic challenges forced startups to reduce costs, including marketing expenses and employee salaries. Globally, more than 1,160 tech companies laid off 2,602,238 employees this year, with Indian startups witnessing a 65.8% drop in funding between January and November 2023.

Indian Startup Funding Breaches $150 Bn Mark In H1 2024

Inc42 · 1y ago

Indian Startup Funding Breaches $150 Bn Mark In H1 2024

According to Inc42's 'Indian Tech Startup Funding Report H1 2024', the funding in India's startup ecosystem reached $151 Bn between 2014 and H1 2024. Funding in 2021 was at its peak with $42 Bn, but dropped significantly to $10 Bn in 2023. In the first half of 2024, Indian startups raised $5.3 Bn, and it is anticipated that funding will witness a rapid increase in the second half of the year.

Funding and acquisitions in Indian startups this week [06-11 Nov]

Entrackr

Entrackr · 1y ago

Funding and acquisitions in Indian startups this week [06-11 Nov]

This week, Indian startups raised around $201 million in funding, with 25 deals in total. The funding witnessed a drop of over 12% compared to the previous week. The deals included growth-stage investments of $131.75 million and early-stage investments of $68.9 million. Some notable funding was raised by XpressBees, Zepto, Euler Motors, and GoMechanic. Bengaluru-based startups led in terms of the number of funding deals, while Delhi-NCR-based startups raised the highest amount. Additionally, there were acquisitions by Game Theory and Amagi, as well as several new product launches.

Generative AI startups defy funding winter, raise record $10 billion in 2023

Economic Times

Economic Times · 1y ago

Generative AI startups defy funding winter, raise record $10 billion in 2023

According to a report by GlobalData, GenAI startups raised a record $10 billion in venture capital funding in 2023, showing a 110% increase compared to 2021. While overall startup funding decreased by 65% in 2023, GenAI startups defied the trend due to their breakthrough technology and widespread applicability. The US accounted for 75% of the funding, followed by Israel, Germany, France, the UK, and China. With the potential to transform industries, GenAI startups are expected to continue attracting investment in the coming years.

Funding and acquisitions in Indian startups this week [13-18 Nov]

Entrackr

Entrackr · 1y ago

Funding and acquisitions in Indian startups this week [13-18 Nov]

During the week of 13-18 November, the Indian startup ecosystem experienced a significant drop in funding, with only 12 deals raising $44.37 million, a decline of 78% from the previous week. The funding included two growth-stage deals totaling $25 million and 10 early-stage deals contributing $19.37 million. Bengaluru-based startups led the number of deals, followed by Delhi-NCR and Pune. E-commerce and healthtech startups received the most funding, and there were also some notable mergers and acquisitions in the industry.

Funding winter becomes harsher: VC funding in Indian start-ups drops by 74.6%

Business Today

Business Today · 2y ago

Funding winter becomes harsher: VC funding in Indian start-ups drops by 74.6%

The funding winter in India appears to be turning harsh, going by the latest report of data and analytics company GlobalData. It revealed that 459 venture capital (VC) deals worth $3.4 billion were closed between January and May 2023. This is dismally low compared with the 851 deals worth $13.3 billion closed in the year-ago period.

Indian fintech sector sees bleak first half of 2023 as funding drops 67%

Economic Times

Economic Times · 2y ago

Indian fintech sector sees bleak first half of 2023 as funding drops 67%

The Indian fintech sector experienced a challenging first half of 2023, with a significant drop of 67% in funding. The slowdown in funding has impacted the growth and expansion of fintech startups in the country. The decline reflects the cautious investor sentiment and challenges faced by the industry during this period. In the first six months of 2023, Indian fintechs raised $1.4 billion, a significant drop from $4.3 billion in the same period last year.

Funding winter leaves late-stage startups out in the cold

Deccan Herald · 2y ago

Funding winter leaves late-stage startups out in the cold

Indian startups raised $2 billion in Q1 2023, a 75% drop from the same period in the previous year, and the smallest quarterly number in nearly three years, according to CB Insights data. The number of startups that received funding in Q1 2023 was 271, compared to 561 in the same period during the previous year.

With record dry powder, VCs face shortage of quality late-stage companies; see potential revival in 2024

Business Today

Business Today · 1y ago

With record dry powder, VCs face shortage of quality late-stage companies; see potential revival in 2024

Indian venture capitalists are currently facing a scarcity of quality companies in the later stages, which is posing a challenge for them to deploy their capital. However, there are signs of a potential revival in funding activity as founders shift their focus from growth-at-all-cost to profitability, coupled with corrected valuations. VC funding in tech start-ups plummeted by 72% in 2023, primarily due to a significant drop in late-stage funding. Despite the shortage of opportunities, investors believe that quality companies will soon emerge, presenting favorable investment opportunities. The year 2024 is expected to witness a cautious revival in funding.

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