Indian startups’ funding winter persists, 72% decline in 2023: Report – Business Standard

The Indian tech startup ecosystem continues to face the prolonged funding winter period, as revealed in a recent report, which showed that the funding received by the sector in 2023 was the lowest in the past five years. With a decline of 72 per cent, Indian startups churned merely $7 billion this year so far, a steep drop compared to $25 billion in the previous year, the report ‘Annual Report: India Tech 2023’, launched by the data intelligence platform Tracxn, showed.