December 12, 2023
1 min read

India Slips to Fourth Global Ranking in Startup Funding for 2023

The last quarter (Q4) this year recorded the lowest funding of $957 million to date, marking it the lowest-funded quarter since Q3 2016…reports Asian Lite News

Making a dent in India’s startup growth story, the country slipped to fourth position in the global ranking among the highest-funded geographies in 2023, as it recorded lowest funding in five years.

After grabbing the third spot globally in 2021 as well as in 2022, India ranked fourth behind the US, the UK and China this year, receiving only $7 billion in total funding (till December 5), according to data compiled by global market intelligence platform Tracxn.

In the third quarter (Q3) this year, India even slipped to fifth position among the highest-funded countries — behind the US, the UK, China and France.

Q3 2023 raised a total of $1.5 billion, which is a 30 per cent drop from Q2 2023 and a 54 per cent drop as compared to Q3 2022.

The last quarter (Q4) this year recorded the lowest funding of $957 million to date, marking it the lowest-funded quarter since Q3 2016.

“India continues to experience the effects of the funding winter. Following an increase in funding in Q4 2022, India Tech is seeing a decline in funding every quarter, with a third consecutive drop in funding in Q3 2023 making it the least funded quarter in 2023 and also the least funded quarter in the last 5 years,” the report showed.

Despite the declining funding inflow, India has maintained its position in top 5 geographies in terms of total funding this year.

For 2023, the funding declined across all stages, with late-stage funding dropping over 73 per cent, followed by early-stage funding (70 per cent) and seed-stage funding (60 per cent).

The decline is primarily due to the biggest drop in late-stage funding, by over 73 per cent to $4.2 billion in 2023 from $15.6 billion in 2022.

The number of $100 million+ rounds recorded were only 17, dropping by 69 per cent compared to last year, said the report.

ALSO READ-Digital Public Infrastructure Fuels Decade of Startup Growth in India

Previous Story

A Weekend Movie Marathon

Next Story

Commonwealth Raises $320M in Climate Finance

Latest from India News

NATO Turns to Indo-Pacific

NATO must adapt, not replicate. Engage the IP4, tailor ties with India, and align with Quad–EU efforts. For India: influence without compromise. For NATO: relevance without overreach….writes Vas Shenoy While the NATO

India-China Talks on SCO Sidelines

Defence Minister Rajnath Singh said that he and General Don Jun had “constructive and forward-looking exchange of views” on issues related to bilateral ties….reports Asian Lite News Defence Minister Rajnath Singh met

Dr Parag Singhal honoured with OBE

Renowned Indian-origin consultant physician and endocrinologist Dr Parag Singhal has been awarded the prestigious Order of the British Empire (OBE) award for his outstanding services to the United Kingdom’s health education and

India Evacuates More Nepalis from Iran

The Nepal Embassy officials and MEA representatives received them at the New Delhi airport, as they departed for Butwal in Nepal….reports Asian Lite News The Nepal Embassy in New Delhi on Thursday
Go toTop

Don't Miss

70-plus Indian startups show exit door to 21K techies

Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about

Qualcomm India to empower 8 women-led startups

Launched in 2020, the Qualcomm Women Entrepreneurs India Network’ has