Funding activity and deal volume for Indian startups worsened to a nine-year low in April, signalling a persistently challenging business environment for these companies.
Angel investments and venture capital funding in Indian startups stood at $381 million across 58 deals in April. This was the lowest figure since April 2014, when 50 deals worth $108 million were announced, according to data collated by VCCEdge, the research platform of VCCircle.
The startup ecosystem has been in the midst of a prolonged funding winter amid rising interest rates, recessionary economic conditions worldwide, stock market volatility, and re-rating of technology stocks. This has turned investors cautious and resulted in a sharp decline in the amount of funding available for startups.
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