Indian startups faced 70% drop in funding in FY23 to $15 billion
While the Indian startup ecosystem experienced a sharp funding peak during FY22 reaching $50 billion, a gradual onset of the funding winter over the subsequent quarters led to a 70 per cent drop in FY23 to around $15 billion, a report showed on Tuesday.
There are about 100 unicorns and less than 400 public companies with a market cap of more than $1 billion in the country.