Indian startups raised more than $11 Bn in 2023: Report
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For Indian companies, the year was difficult because the ecosystem was still plagued by the funding shortage. Not that there wasn't any positive news: some companies reached profitability, some got closer to making their exchange debut, and sure, a few advanced to the unicorn club. However, it is undeniable that entrepreneurs found it difficult to secure funding, forcing them to reevaluate their approach. Many firms experienced major layoffs when VC funding dried up, and a few businesses, including ZestMoney, Striker, Anar, Quizy, Frontrow, Fantok, and Akudo, ceased operations. We examine mergers and acquisitions, ecosystem capital flow, and other topics in detail in our yearly report card.
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