Venture capital firms tighten funding tap of Indian startups

Bengaluru: The flood of venture capital directed at Indian startups in recent years is drying up even as a stream of global investors including the likes of Sequoia Capital caution entrepreneurs about turbulent financial markets. Big-ticket funding rounds have suffered a huge blow in the past two months signalling a reluctance among these investors to write large cheques.

In the period April 1-May 16, 2022, there were only nine funding rounds of more than $100 million, cumulatively amounting to a little over $2 billion, compared to 27 such deals in the January-March period this year, according to data sourced from New York-based analytics platform CB Insights.