Start-up founders expect fundraising to be tougher in 2023: Report

Only 38% of them expect higher pace of hiring, mostly in early-stage companies

As many as 58 per cent of founders of Indian start-ups expect fundraising will be tougher in 2023 and hiring muted, said a report on Wednesday.

Only 53 per cent of founders had a positive experience while trying to raise funds last year compared to 92 per cent in 2021, according to InnoVen’s ‘India Startup Outlook Report.’ Its research is based on insights from more than 120 start-up founders across stages and sectors such as fintech, SaaS, D2C, logistics, e-commerce and health technology.

“2022 was a challenging year for the start-up ecosystem with an end to cheap money, rising interest rates and