Fundraising gets tougher, 2023 super challenging for startups: Report

Amid a deepening funding winter, only 53 per cent of startup founders had a positive fundraising experience (71 per cent of those who attempted to raise) in 2022, down from 92 per cent in 2021, a report said on Wednesday.

Founders expect this year to be challenging, with 58 per cent of founders expecting a tough fundraising environment, according to the report by InnoVen Capital, Asia’s leading venture debt firm.

Hiring is also expected to slow down with only 38 per cent of startup founders expecting a higher pace of hiring predominantly in early-stage companies. The report also highlighted that hiring good talent is still a challenge for founders.