India’s more than 6,000 women-led startups remain unfunded: Tracxn

India's startup ecosystem is marred by gender biases as more than 6,000 companies that have female founders, remain unfunded to date. According to data by Tracxn, India is home to more than 8,800 startups that have female founders with a cumulative funding of over $23.3 billion. However, around 2,300 startups with female founders have received funding to date. Among them, around 1,000 startups are currently in the Seed stage, 251 are in the Early stage and 67 are in the Late Stage.

The VC funding in female-owned startups declined by 75% in the past three years. Tracxn data highlighted that women-led startups saw the highest funding in 2021 at $6.5 billion, and by 2023, the VC funding reduced to $1.1 billion.

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In the Tech startup ecosystem in India, $8.7 billion was raised in 2023, with companies having women founders raised $1.15 billion, a share of 13% as per the data.

In the current calendar year, women-led startups have witnessed $112 million in funding almost in line with $123 million raised in the first two months of 2023.

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Notably, the Indian Tech startup ecosystem ranks second after the US in terms of funding raised by companies with women founders. A total of $23.2 billion has been raised by Indian startups with female founders to date.

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The percentage contribution by women-led startups in the country has been more than 15% from 2020 to 2022. However, due to the funding winter and the global macroeconomic scenario, the funding has plunged massively.

On a global scale of startups with women founders, 2020 witnessed the highest funding contribution from the Indian startups of almost 17%. In the year 2020, women-led tech startups raised $2.90 billion of funds, against $17 billion by global tech startups with women founders.

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Last year, tech startups with women founders witnessed $1.10 billion of funding in contrast to $15.19 billion raised by women-led global tech firms.

A total of 19 unicorns were founded by women entrepreneurs in the tech startup space of which 15 are currently active. As many as 14 companies with female founders have gone public to date these include LawSikho, Honasa Consumer, Appetite Food, Tracxn, Mapmy India, Nykaa, Smaash Entertainment, Add Shop Promotions, Yatra, TeamLease, Justdial, Aurionpro, Appollo Finvest, and Share Mart.