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Startup funding in India hits a 7-year low of $10 Bn in 2023

Inc42 · 1y ago

Startup funding in India hits a 7-year low of $10 Bn in 2023

According to the "Indian Tech Startup Funding Report 2023" by Inc42, Indian startups raised over $10 billion in funding in 2023, marking a 60% decrease compared to 2022. This is the lowest level of funding in seven years. The number of deals also declined by 40.8% compared to the previous year. The report highlights that five startups alone accounted for more than $2.8 billion of the total funding. The median ticket size dropped to $2.2 million from $4 million in 2019, and funding for women-led startups declined by 80%. Seed stage funding faced the most significant decline at 72% year-on-year. E-commerce and fintech sectors emerged as the top sectors in terms of deals and funding amounts.

Related News

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.

Now, 1 in 7 iPhones Manufactured In India As Output Hits $14 Bn

Inc42 · 1y ago

Now, 1 in 7 iPhones Manufactured In India As Output Hits $14 Bn

Apple has manufactured around $14 billion worth of iPhones in India during the fiscal year 2024. This makes up approximately 14% of the company's flagship devices, which translates to about 1 in every 7 iPhones. Taiwanese manufacturers Foxconn and Pegatron have played a significant role in boosting Apple's production output in India. Foxconn assembled around 67% of the iPhones made in India, while Pegatron contributed about 17%. This move is part of Apple's effort to diversify its supply chains and reduce its dependence on China for production. The company is also reportedly planning to offer residential facilities to factory workers in India. In terms of revenue, Apple accounted for 23% of smartphone revenue share in India in 2023, making it the top smartphone brand in the country.

Mumbai Feels The Chill As Startup Funding Plummets To A 3-Year Low Of $1.5 Bn In 2023

Inc42 · 1y ago

Mumbai Feels The Chill As Startup Funding Plummets To A 3-Year Low Of $1.5 Bn In 2023

Mumbai, India's third-highest funded startup hub, experienced a significant decline in funding in 2023, reaching a three-year low of $1.5 billion. This represents a 62% decrease from the previous year, in line with the overall slump in funding across the Indian startup ecosystem. E-commerce, fintech, and enterprise tech were the most funded sectors in Mumbai, securing deals worth $330 million, $345.8 million, and $172.5 million, respectively. The Maharashtra government is actively supporting the startup ecosystem through initiatives like dedicated startup zones and revisions to the startup policy.

How did emerging Indian startup hubs perform on the funding ladder in 2023?

Inc42 · 1y ago

How did emerging Indian startup hubs perform on the funding ladder in 2023?

According to Inc42's Indian Startup Funding Report 2023, Pune emerged as the fastest-growing startup hub in India, securing $4.7 Bn in funding across 355 deals between 2014 and 2023. However, Jaipur experienced a decline in funding activity, only recording eight deals in 2023, reflecting a 56% decline from the previous year. Surprisingly, Surat made it to the top 10 startup hubs, securing $6.9 Mn in funding, marking the highest amount to date. Overall, emerging startup hubs in India witnessed a 40% decline in funding compared to the previous year.

Funding in Indian startups sinks to $7 billion, lowest since 2017

Economic Times

Economic Times · 1y ago

Funding in Indian startups sinks to $7 billion, lowest since 2017

Indian startup funding experienced a significant decline in 2023, totaling $7 billion, less than one-third of the $25 billion received in the previous year, marking a seven-year low. The fourth quarter of 2023 saw the lowest equity investment for new-age ventures since Q3 2016. Only two new unicorns were created, a 91% drop from 2022. Late-stage startups faced challenges, with some resorting to debt instruments. Funding plummeted in late-stage companies by over 73%, while early-stage and seed-stage funding dropped by 70% and 60%, respectively. The downturn reflects a cautious approach by investors amid global uncertainties.

'Never had a funding winter... good firms always had enough money to back them': Sanjeev Bikhchandani

Business Today

Business Today · 1y ago

'Never had a funding winter... good firms always had enough money to back them': Sanjeev Bikhchandani

Sanjeev Bikhchandani, the co-founder of Info Edge, owner of Naukri.com, believes that the Indian startup ecosystem has not experienced a funding winter despite recent challenges. Bikhchandani stated that there was never a funding shortage, but rather an excess of funding, with too much money chasing too few deals at inflated valuations. However, Indian startup funding did experience a seven-year low in 2023, falling 72% YoY to $7 billion. Bikhchandani highlighted the importance of government support and identified startups as key drivers in India's development as a developed economy by 2047.

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.

'Never had a funding winter... good firms always had enough money to back them': Sanjeev Bikhchandani

Business Today

Business Today · 1y ago

'Never had a funding winter... good firms always had enough money to back them': Sanjeev Bikhchandani

Indian startup funding has hit a seven-year low in 2023, with investments falling 72% YoY to $7bn compared to $25bn in 2022, according to data from Tracxn. However, Sanjeev Bikhchandani, the investor behind Info Edge, which owns Naukri.com, has said that there was never really a funding winter in the Indian startup ecosystem, but rather a funding excess. Bikhchandani believes that good companies always have enough money to back them, and startups are expected to play a crucial role in making India a developed economy by 2047. PE/VC investments in India also fell 11% YoY in CY 2023.

Inc42 Media on LinkedIn: Indian startups have raised a whopping $141 Bn+ since 2014 – and over the…

Inc42 · 1y ago

Inc42 Media on LinkedIn: Indian startups have raised a whopping $141 Bn+ since 2014 – and over the…

Indian startups have seen significant growth in funding, with over $141 billion raised since 2014. However, funding in the first quarter of 2023 experienced a decline of over 75% compared to the previous year. Despite this, investors have announced over $3.6 billion worth of funds to support Indian startups. It is estimated that India will have more than 280 unicorns by 2030, thanks to the continued support and investments from various investors. To learn more, a full report on the state of the Indian startup ecosystem in 2023 is available for free.

India tech startups see lowest funding in five years, just two unicorns in 2023

Economic Times

Economic Times · 1y ago

India tech startups see lowest funding in five years, just two unicorns in 2023

According to a report by market intelligence platform Tracxn, India's tech startup ecosystem experienced the lowest funding in the last five years, dropping India's global ranking from 4th to 5th place. The total funding received in 2023 was $7 billion, a decline of 72% compared to the previous year. Only two unicorns were created in 2023, as opposed to 23 the year before. Late-stage funding saw the biggest drop of over 73%, followed by early-stage funding (70%) and seed-stage funding (60%). Despite the slowdown, investors remain optimistic about India's future success in the tech startup space.

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