Funding: Tech startups raise $7 billion, lowest in 5 years
BENGALURU: The funding winter in India's startup ecosystem is far from over. Indian tech startups raised $7 billion this year, its lowest in the last five years. This is a sharp drop of 72% as against $25 billion it raised in the corresponding period last year, showed data from market intelligenceplatform Tracxn's Geo Annual Report: India Tech 2023.Bengaluru, Mumbai, and Delhi-NCR are the top-funded cities in India so far.With $7 billion in funding so far, the report said India dropped to the fifth spot from the fourth, in terms of the highest-funded geographies globally this year. The December quarter (Q4) recorded the lowest funding of $957 million to date, marking it the lowest-funded quarter since the September quarter of 2016. The decline is primarily due to the sharpest drop in late...
