The total overall funding in India declined by 21% in Q1 2023 as compared to Q4 2022 and by more than 75% when compared with Q1 2022. Despite taking second place, the funding in India is still on a declining trend. The report highlighted that India is the second highest-funded geography after the US in Q1 2023. India is second highest-funded geography after US Although funding has decreased on a yearly basis, the month-on-month comparison is encouraging as Indian startups saw a significant uptick in funding – a 54% rise to $1.2 billion in March 2023 from $777 million in February.
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