[Weekly funding roundup Nov 11-17] Steep drop in VC inflow amid absence of large deals

Venture capital funding dropped to double digits for the third week of November largely due to the absence of large deals.

[Weekly funding roundup Nov 11-17] Steep drop in VC inflow amid absence of large deals

Friday November 17, 2023,

2 min Read

The month of November has not been encouraging in terms of venture capital (VC) inflow into Indian startups as the third week saw the total funding on a weekly basis drop down to double digits in the absence of large transactions.

The total VC funding for the week stood at just $34 million cutting across nine deals. In contrast, the comparable previous week saw a total inflow of $178 million.


October had offered some hope as the total venture funding crossed $1 billion on a monthly basis driven by certain large deals, especially of Ola Electric. However, it looks like this was an aberration going by the early trends of November.

As per YourStory Research, this is the 14th time this year till now that VC funding has dropped below $100 million on a weekly basis.

This reveals the steep challenges that the Indian startup ecosystem continues to face in raising VC funding with investors continuing to remain on the sidelines. It is unlikely that there will be any reversal in the flow of VC money anytime in the near future.


The hope for the Indian startup ecosystem now rests on how the large macroeconomic conditions will play out in the near future. If the conditions turn favourable where interest rates are lowered and there is some hope of economic recovery in developed economies, then there is a stronger probability of money flow improving.

The only expectation is that next year will be a better beginning for Indian startups.

Key transactions

Bakingo, the omnichannel bakery brand with a major focus on cakes, has raised $16 million as growth capital from Faering Capital in its first external funding.


Inito, a medical technology startup, has raised $6 million in a Series A funding round led by Fireside Ventures.

Edited by Kanishk Singh