2023 in review: For Indian tech startups, an unrelenting funding winter
- India dropped a rung in global tech startup rankings, giving up the third spot to China, as the funding climate showed no signs of a thaw throughout 2023
- The unicorn tally also shrank significantly--to 2, from 24 in 2022
The Indian tech startup ecosystem continued to grapple with a funding slowdown in 2023. Investments into tech startups during the year hit a five-year low of $7 billion, taking India's global ranking from third to fourth place.