India: Late-stage startup funding dips to five-year low of $2.3b in Jan-May

Even as startup fundraising in India has started to show green shoots of recovery, late-stage deal activity has been overall subdued compared to the past years. Late-stage funding deals (Series C and beyond) plunged to a five-year low during Jan-May 2024 owing to a prolonged funding winter that hit the Indian startup ecosystem in the second half of 2022.