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Tracxn releases its annual India start-up report: 2023 sees the lowest funding in five years

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Tracxn releases its annual India start-up report: 2023 sees the lowest funding in five years

Tracxn's 'Tracxn Geo Annual Report: India Tech 2023' reveals a significant funding decline of 72% in the Indian tech startup ecosystem compared to the previous year. India dropped to the 5th highest-funded geography globally in 2023. Late-stage funding saw the biggest drop, while FinTech and Retail sectors experienced decreases in funding. However, sectors such as Environment Tech and SpaceTech garnered investor attention. Two new unicorns were created, while IPO numbers remained consistent. Bengaluru, Mumbai, and Delhi-NCR continue to attract significant funding in India's tech startup ecosystem. Despite the funding slowdown, the government is committed to promoting the tech ecosystem through various initiatives.

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