India sees dip in startup funding in April-June

Mumbai : The funding in the Indian startup ecosystem nosedived by a huge 33 per cent to $6.9 billion in the April-June period (Q2), from $10.3 billion in the first quarter (Q1) this year, amid the economic meltdown and layoffs in the funding winter, a report showed on Thursday. In Q2, 121 new startups closed their first funding rounds, four startups turned unicorns, 62 startups got acquired, and five filed their IPOs, according to data intelligence platform Tracxn Technologies. The Indian startups raised $6.9 billion in Q2 in 409 funding rounds and the top startups were VerSe ($805 million), Delhivery ($304 million), and udaan ($275 million). They were followed closely by ShareChat ($255 million) and upGrad ($225 million). Bengaluru, Delhi, and Mumbai are the top cities attracting the maximum investments, as per the report. “We aim to give industry stakeholders key insights of the ecosystem that would help in business decision making that is backed by extensive market intelligence and thorough research and data analysis,” said Neha Singh, Co-Founder, Tracxn.