Indian startup funding hits 5-year low in Q3 2023 at $1.5 bn: Tracxn

Investment in Indian startups dropped to a five-year low in the third quarter of calendar year 2023, with funding declining by 54 per cent year-on-year to $1.5 billion. The funding also fell 29 per cent quarter-on-quarter, according to a report by market intelligence platform Tracxn.

“Despite the challenging funding environment, India ranks fifth in terms of highest funded countries in Q3 2023 and maintains its fourth-place position for the year-to-date. This highlights the resilience of India’s tech startups and their adaptability to market fluctuations,” said Neha Singh, co-founder of Tracxn.