Indian startups have reported around 73% decline in funding this year as compared to 2022. Only LetsVenture, Accel, and Blume Ventures have been the top active investors in 2023 to date.
The pandemic may have wreaked havoc on existing businesses, but it created a bubble bigger than the dotcom one in the startup ecosystem as cheap money was
A majority of the investment was seed-stage funding, across 92 rounds. In October last year, startups had raised a total of $1.14 billion across 149 rounds, as per Tracxn data. Signs of a funding winter had begun to emerge from September 2022.