Sharing his views on this trend which has been under discussion for sometime now, Dr Aravind Chinchure, CEO of Deshpande Startups believes that this is a result of economic situations across the globe and a shift in the perspective of the investors.
Despite funding slowdown, India continues to be the third largest tech startup ecosystem globally, with over 1,300 active tech startups added last year, taking the total tally of active tech startups to 25,000-27,000. India also added 23 unicorns in 2022 the second highest figures in the world. Indian Startups Grow From 350 in 2014 to 90,000 in 2023 Amid Ongoing Funding Winter and Hiring Slowdown.
'Early-stage start-ups and mid-stage start-ups are finding funding quite easily. However, late-stage start-ups’ funding success is predicated on whether they are profitable or not,' says Priyanka Gill