Tech start-ups raise $885 mn in funding in Aug, down 20% from July: Report

Edtech unicorn UpGrad and fintech start-up EarlySalary among companies to earn big-ticket investments: Tracxn

Indian technology start-ups got $885 million in funding in August in deals across 102 rounds and 9 acquisitions, according to a monthly report by tracking platform Tracxn.

Investments fell 20 per cent, funding rounds by 8 per cent and acquisitions dropped by 18 per cent compared to July, said the report. Bangalore led in the total funding raised, followed by Mumbai and Delhi.

Quarterly funding for tech start-ups peaked in Q3 2021 at $14.8 billion and is on a steady decline since then. India’s funding winter is predicted to continue for the next 12-18 months.

Edtech is going through a rough time marked