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Funding in female-founded startups drop 75% in 2023: Report

On a positive note, India is now home to more than 8,000 startups that have female founders, which have raised nearly $23 billion till date.

March 08, 2024 / 14:34 IST
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2021 was the highest funded year with $6.5B for women-led startups in a decade

As the ongoing winter funding persists in the Indian startup ecosystem, women-led firms have suffered significantly, witnessing a sharp drop of 75 percent in funding from $4.5 billion in 2022 to $1.1 billion in 2023, a report by Traxcn highlights.

The year 2021 was the highest funded year with $6.5 billion for women-led startups in a decade. The peak occurrence of women-led unicorns was also observed in 2021, with over 65 percent of these startup unicorns led by women emerging in the years 2021 and 2022.

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Nonetheless, the trajectory seems to be promising in 2024 for women-led startups, which have already raised $100 million in funding in the first two months of 2024.

Overall, 2023 was the lowest funded year for the Indian startup ecosystem in the last five years, as the funding dropped 72 percent at $8.14 billion billion compared to $24.3 billion in the previous year.