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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.

Funding for Indian startups has dropped to a five-year low in 2023, with a total of $7 billion having flowed into the ecosystem so far this year, according to data from Tracxn. This marks a significant decline of nearly 73% compared to the $25 billion funding recorded in 2022.

The Karnataka Innovation and Technology Society, (KITS) and the Department of Agriculture, Government of Karnataka has announced a partnership with the Centre for Cellular and Molecular Platforms (C-CAMP) at the formal launch of Phase II of two of C-CAMP-KTech flagship innovation programmes, one in the agriculture domain and the other in the startup acceleration for scale-up of Karnataka’s rapidly growing biotech startup community.

PM Modi, in a post on LinkedIn, sent the invite. He claimed that AI is a rapidly advancing technology with expanding applications. It’s now in the hands of young, brilliant minds who are enriching its vast potential. India, with its vibrant start-up ecosystem and talented workforce, is set to contribute actively to the evolution of AI.

According to Anil Sinha, Chief Technology Officer, Fibe, the move to set up a cloud facility will keep financial sector data safe and will help earlyage fintech startups scale up their operations. The proposal to set up a cloud facility for the financial sector in India is a proof point of India s indigenous tech capabilities.

Its flagship product, Forge, is a significant driving force behind Together AI’s revenue surge. Contributing 90% of the company’s total revenue, Forge offers startups a comprehensive solution encompassing computing resources and model training software within a single package.