VC funding in India has dropped 75% YoY.
Q4 funding in 2023 dropped to $2.8B, compared to $11.9B in 2022.
- Fintech, retail, and SaaS emerged were the top-performing sectors.
- While fintech funding increased by 150% since last quarter, the sector saw a YoY drop of 51%.
- There
were nine large $100M+ rounds during Q1 2023, while Accel, Sequoia
Capital, and Alteria Capital were the top early-stage investors during
this period.
- The number of funding rounds also decreased. There were 816 funding deals in Q1 2022, compared to 301 in Q1 2023.
- No new unicorns were created in Q1 2023, compared to the 14 that were mined in the same period in 2022.
