VENTURE CAPITAL FUNDS TO STARTUPS DROP 66% TO $6.9 BILLION IN JANUARY-NOVEMBER
- NEWS Desk Global
- Dec 21, 2023
- 1 min read
The funding winter in India's startup ecosystem persists. Startups in India have raised $6.9 billion across 1,013 venture capital (VC) funding deals during January-November 2023. This is a 65.8% drop in terms of value when compared to the $20.2 billion it raised during the year-ago period.
This reflects how global startups are grappling with a prolonged funding winter and mature markets like the US are no exception. The US startup ecosystem saw 6,307 VC deals worth $104.5 billion during the January-November period, GlobalData's report showed. This represents a decline of 42% year-on-year in terms of deals volume and a decline of 44% in terms of deals value.
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