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…

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.

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