In April, funding activity and transaction volume for Indian entrepreneurs reached a nine-year low, indicating a persistently difficult business climate for these companies.
In April, 58 angel and venture capital investments in Indian enterprises totaled $381 million.
This was the lowest number since April 2014, when 50 transactions totaling $108 million were announced, according to data compiled by VCCEdge, VCCircle’s research arm.
As a result of rising interest rates, global recessionary economic conditions, volatile stock markets, and a re-rating of technology equities, the startup ecosystem has been experiencing a protracted funding winter. This has made investors wary and precipitated a precipitous decline in the quantity of capital available for businesses.