BENGALURU : Women-led tech start-ups have managed to secure only $1.1 billion funding in 2023, a 75% decline compared to $4.5 billion in 2022. This significant drop in funding was not confined to a specific sector, as it occurred across diverse sectors and geographical locations, according to Tracxn data.
It says the first two months of this year have witnessed $100 million in funding, close to $103 million raised in the same period last year. Interestingly, 2021 was the highest funded year as these start-ups raised $6.5 billion, as they experienced a surge of over 100% funding across various stages.
However, post-2021, overall funding across stages declined, except for early-stage start-ups, which saw a 97% increase in 2022, reaching $1.5 billion compared to the previous year.
With over 2,300 start-ups, the Delhi-NCR region takes the lead in terms of the number of women-led start-ups formed till now, followed by Bengaluru and Mumbai with 1,795 and 1,497 start-ups, respectively. The report adds that the peak occurrence of women-led Unicorns was observed in 2021, with over 65% of these start-up unicorns led by women emerging in the years 2021 and 2022.