Indian startups see huge 35% drop in funding, edtech among worst performers

As the funding winter deepens amid growing layoffs, India saw a massive 35 per cent drop in funding this year, from $37.2 billion in 2021 to $24.7 billion (till November in 2022) and edtech startups saw a significant 39 per cent drop compared to the same period last year, a report showed on Thursday.

The significant drop in funding is attributed to a decline in late-stage investments, which fell by 45 per cent from $29.3 billion in January-November 2021 to $16.1 billion for the same period this year, according to data provided by Tracxn, a leading global market intelligence platform.

Seed stage rounds also experienced a contraction and dropped by 38 per cent as compared to the previous year.