Indian startup funding in July 2023 sank to its lowest levels since Jan 2021

The Indian startup ecosystem is currently facing challenging times as funding remains scarce and the anticipated boost from the monsoons has not materialized.

Following this trend, July witnessed a significant slump to below the $500 million mark, exacerbating the situation.

CHART: Startup funding in India plummeted in the first half of 2023

In the first half of 2023, the Indian startup ecosystem faced funding challenges, experiencing a significant decline to $6 billion compared to the $20 billion raised in the same period last year. The funding landscape comprised 96 growth/late-stage deals worth $4.48 billion and 417 early-stage dea…

Emmanuel OyedejiTechloy

According to data compiled by Fintrackr, 83 startups managed to secure fresh fundraising totalling around $461 million in July. This represents the lowest monthly fundraising amount since January 2021, highlighting the prevailing funding drought.

Comparing the figures on a year-on-year basis, startups raised $869 million in July 2022 and a staggering $4.6 billion in July 2021, indicating a significant decline this year according to the Techloy chart below.