India’s startup landscape: Funding winter continues as investment plummets

Today, India is known globally for its vibrant startup ecosystem, which is the world’s third largest. But like the rest of the world, the country’s startups have been grappling with a ‘funding winter’. Only two startups attained unicorn status — a valuation of $1 billion – last year.

A new report brings out the continuing downward trend in funding, as investors remain more cautious and selective, even as India remained the fourth largest venture market in the world in 2023.