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Angel, VC funding surge to $878 mn in Sep after Aug fall
Mint Mumbai
|October 11, 2023
Numbers are still far below the levels seen during the euphoric months of 2021 and 2022
The number of angel funding and venture capital transactions in India recovered in September after falling in August, but remained far below the levels seen during the euphoric months in 2021 and 2022.
Startup funding has slowed substantially in 2023, both in value and volume terms, as VC firms turned cautious in the backdrop of rising interest rates and a worldwide economic slowdown. Monthly deals this year has been less than the half the number in 2021 and the first quarter of 2022, while the cumulative deal value has slumped 70-80%.
India recorded a total of 76 angel and VC transactions in September with a cumulative investment value of $878 million, compared with 66 deals valued at $538 million in August, as per VCCEdge, the data research platform of VCCircle.
This story is from the October 11, 2023 edition of Mint Mumbai.
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