Business Standard

Dec 2023 becomes highest funded month as startup investments cross $1.6 bn

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Illustration: Ajay Mohanty

Indian startup funding crossed the $1.6 billion mark in the month of December 2023 to become the most funded month this year, indicating a thaw in the so-called funding winter, according to data collated by market intelligence platform Tracxn and Business Standard.

The uptick in funding was spearheaded by late-stage rounds led by Flipkart – who raised a massive $600 million from its parent company Walmart, and Udaan – who raised $340 million from M&G Prudential and Lightspeed. Upcoming companies had raised $1.4 million in January this year.

 


Regardless, startup funding hit a seven year low in 2023.

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First Published: Dec 29 2023 | 11:53 PM IST

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