April was a tough month for Indian startups as they struggled to surpass the $1 billion mark in funding. The month was marked by a gloomy atmosphere of layoffs and a lack of large rounds, with only a couple of late-stage companies managing to contribute to more than half of the total funding.

The data compiled by Fintrackr paints a bleak picture, as the Techloy chart below shows, with 75 startups managing to raise only $990 million, a sharp 24% decline from the previous month's $1.3 billion and a whopping 61% year-on-year from April 2022.