Hit by layoffs and losses, Indian startups suffer 35% drop in funding
Image Credit: FPJ
As the funding winter deepens amid growing layoffs, India saw a massive 35% drop in funding this year, from $37.2 billion in 2021 to $24.7 billion (till November in 2022) and edtech startups saw a significant 39 per cent drop compared to the same period last year, a report showed on Thursday. Seed stage rounds also experienced a contraction and dropped by 38% as compared to the previous year.