Over 100 Indian startups laid off more than 15,000 staff this year: Report
Indian startups witness 65.8% drop in funding between Jan-Nov 2023: GlobalData With fresh funding becoming scarce, startups were forced to cut marketing expenses, realign cost structures, and reduce employee costs. Indian startups witnessed a 65.8% drop in funding in terms of value between January and November 2023.
Nithin Kamath joins the newly reconstituted National Start-up Advisory Council This year, the Indian startups raised $6.9 billion across 1,013 venture capital (VC) funding deals, according to GlobalData. Among the top VC funding deals in Indian startups, this year were $250 million fundraising by PhysicsWallah, $229 million raised by Perfios Software Solutions, $200 million by PhoinePe, $200 million by Zepto, and $120 million worth of funding raised by Zetwerk.
Startup recap: What entrepreneurs expect from FM's interim Budget 2024? Last year, Indian startups secured more than $10 billion mark in VC funding in just four months. The unicorn tally also shrank significantly in India.
Only Zepto and Unicorn earned this title this year in contrast to 24 unicorns in 2022. GlobalData's Financial Deals Database also mentioned that VC funding in terms of volume dropped 38.4% to 1,644 VC deals between January and November time frame.Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
