Funding in Indian start-ups dropped 35% to $24.7 billion in 2022 YTD from $37.2 billion in the same period last year, primarily brought about by a significant decline in late-stage funding, according to a report by market intelligence platform Tracxn.
Late-stage funding fell by 45% from $29.3 billion between January and November 2021 to $16.1 billion for the same period in 2022.
Funding in Q3 2022 dropped 58% compared to Q2 2022 and dropped by 79% compared to the peak of Q3 2021. “Although last month has emerged as a ray of hope, it is still too early to assume that the bottom is behind us.
We need to wait one or two quarters to see if th momentum continues,” said Neha Singh, co-founder and CEO, Tracxn.