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Amitabh Kant, G20 Sherpa, inaugurates the Startup Mahakumbh summit in New Delhi. He emphasised the importance of proper governance and realistic valuations | Photo: X @amitabhk87


Setting an upbeat tone for the Startup Mahakumbh summit that began in New Delhi on Monday, Rajan Anandan, Managing Partner of venture capital firm Peak XV Partners (formerly Sequoia India), hinted at a reversal of the funding winter. Indian  startups are expected to raise around $8-12 billion in funding this year, according to Anandan.

 


Around $10 billion – roughly Rs 80,000 crore – is sufficient for the Indian startup ecosystem to grow, Anandan said.

 


In 2021 the fundraise by startups had touched a new high of $41.4 billion, Tracxn data showed. In 2022, it was at $25 billion. Then in

First Published: Mar 19 2024 | 12:48 AM IST



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