According to a GlobalData analysis, 920 venture capital (VC) funding deals were disclosed in India between January and October 2023, a 38.6 percent decrease from the 1499 VC deals announced between January and October 2022. According to the data and analytics firm, the equivalent VC capital value fell by 67.1 percent from $19.2 billion in January-October 2022 to $6.3 billion in January-October 2023.
Nonetheless, India remains one of the top five markets for VC funding activity internationally, accounting for 5.4% of total VC investment deals disclosed globally between January and October 2023.
It also held 3.1 percent of the corresponding stated deal value. India is also an important APAC market, ranking second only to China in terms of VC capital deal volume and value.
According to a research of GlobalData's Financial Deals Database, despite the lowered investor attitude, India will see the announcement of certain VC fundraising rounds worth more than $100 million in 2023.
Among the notable VC funding deals announced in India between January and October 2023 are $250 million raised by PhysicsWallah, $229 million raised by Perfios Software Solutions, $200 million raised by PhonePe, $200 million raised by Zepto, and $120 million raised by Zetwerk.
"The ability to secure noteworthy funding rounds exceeding $100 million signals a resilient entrepreneurial spirit, showcasing the enduring attractiveness of India's startup ecosystem, even amid cautious investor sentiment," Bose said.
