Pune startups witnessed 70% dip in funding in 2023: Data
India, March 16 -- The year 2023 witnessed a slowdown in funding for startups nationwide, with Pune experiencing a notable decrease of approximately 65-70 per cent, according to data from TheKredible, a startup data intelligence platform.
Many industry insiders have interpreted this decline as a necessary course correction.
The scrutiny of corporate governance and ethical issues, particularly among Unicorns, has made fund managers increasingly cautious about investing in startups.
They now prioritise factors like customer base, profitability, and other metrics before committing funds.
As a result of these shifts, Pune's startup ecosystem reported a total of 35 deals in 2023, garnering $359.94 million in funding.
This marks a signific...
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