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The Indian start-ups' funding in India has dropped by 35 per cent to $24.7 billion in 2022 year-to-date payroll (YTD) in comparison to $37.2 billion in the same period last year, Business Standard quoted market intelligence platform Tracxn report on 8 December.

According to the report, the late stage funding for startups also plunged by 45 per cent from $29.3 billion between January and November 2021 to $16.1 billion for the same period in 2022.

The report shows the funding in Q3 2022 declined 58 per cent in comparison to Q2 2022 and fell by 79 per cent compared to the peak of Q3 2021.

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“Although last month has emerged as a ray of hope, it is still too early to assume that the bottom is behind us. We need to wait one or two quarters to see if the momentum continues," BS quoted Tracxn co-founder and CEO Neha Singh as saying.

Apart from the about details Tracxn said that in past one year the top founding rounds cleared by firms include -- BUJU'S ($965 million, Series F), VerSe ($805 million, Series J), Swiggy ($700 million, Series J), Tata Passenger ($496 million, Series D) and Polygon ($450 million, Series E).

Also, the report said that enterprise applications, followed by fintech, retails and 11 tech IPOs were the , naming the top performing sectors in 2022.

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