Friday, June 21, 2024

Just 7 women-led startups in India receive funding this year

Funding in women-led startups in India decreased from 183 startups in 2014 to a mere 7 this year to date, according to a new report.

The funding landscape for women-led companies showed a significant surge in the number of rounds, rising from 171 in 2014 to 460 in 2022.

However, there was a sharp decline in 2023, with the number of rounds dropping to 185, according to a report from leading market intelligence platform Tracxn.

Zomato, Byju’s Lenskart and Zerodha are among India’s top 10 women-led startups.

Data suggests that Bengaluru hosts a significant 1783 women-led startups, in stark contrast to Ahmedabad, which has a total of 181 women-led startups.

Meanwhile, India saw a third consecutive drop in tech funding in a quarter this year, with the July-September period (Q3) becoming the least-funded quarter in the last five years.

Q3 2023 saw a significant drop in funding, with a total of $1.5 billion raised, marking a 29 per cent decrease from the previous quarter and a staggering 54 per cent decline compared to Q3 2022, according to Tracxn.

Late-stage rounds witnessed a 33 per cent reduction, while early-stage and seed-stage funding plummeted by 74 per cent and 75 per cent, respectively, compared to the same quarter last year.

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