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Telangana tech startups funding declines 78% to $99 million in 2023: Report

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Telangana tech startups funding declines 78% to $99 million in 2023: Report

Telangana tech startups experienced a significant 78% drop in funding, from $459 million in 2022 to only $99.2 million in 2023. This decline can be attributed to global macroeconomic trends and geopolitical factors. Despite this, Telangana tech startups have raised a total of $2.7 billion to date. The top-funded sectors in 2023 were Aerospace, Maritime & Defense Tech, EdTech, and Enterprise Applications. The report also highlights a decline in early-stage funding and a decrease in acquisitions within the Telangana tech space. Similar decreases in funding were observed in other Indian states such as Delhi NCR, Karnataka, Gujarat, Tamil Nadu, and Maharashtra. On the other hand, Kerala-based startups saw a 40% increase in seed-stage funding in 2023.

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