Hit by the ongoing funding winter and macroeconomic headwinds, fundraising by Indian startups hit a seven-quarter low to touch $3.1 billion in the third quarter of 2022, data from DealStreetAsia DATA VANTAGE‘s latest report India Deal Review: Q3 2022 show.
Not only was the amount less than half the financing secured in Q2 2022, the deal volume was also down by almost 10% sequentially at 345. On a year-on-year basis, deal value in the quarter under review fell by a stark 83%, while deal count was down 34% from Q3 2021.
