Tech startup funding for the March quarter fell by 51% to $1.6bn, as per a report by Tracxn. Overall funding slowed down after 3 quarters of growth and even the numbers of funding rounds fell to 222 as compared to 432, over the same period last year. Despite this India was the 4th biggest funded market in Q1CY23. Late-stage funding has seen the biggest drop this quarter in terms of funding, while the retail, fintech, and enterprise applications were the top-performing sectors. 2 new unicorns-Perfios and Krutrim also were there, while companies such as Credit Saison, Shadowfax raised between $100-$144mn each and were the top-most funded startups.
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