THE WORLDWIDE VENTURE SLOWDOWN IN Q3 AFFECTED STARTUPS IN INDIA AS WELL.

According to the private market database Tracxn, startups in India raised 50% less money in the third quarter than they did a year earlier and less money than they did in the second quarter. The Indian startup ecosystem was not immune to the fundraising problems that affected the rest of the globe.

Similar to previous week, the past quarter saw a significant decline in venture capital investment. However, the losses in deal volume and value we're witnessing in India this year are startling in comparison, especially for a nation with this level of population, internet presence, and technological expertise. If this trend doesn't change in the next quarter or two, venture investment totals may be less than $1 billion each quarter.

According to Tracxn statistics, the third quarter of 2023 saw Indian startups raise $1.5 billion, 54% less than the $3.4 billion they had raised the year prior. Additionally, the overall number of deals dropped significantly, by 71%, to 166 in Q3 2023 from 592 in Q3 2022.

Comparing those figures to the peak periods of Q4 2021 and Q1 2022, when startups in the nation raised $10.9 billion and $11.8 billion, respectively, is rather depressing.

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