Startup funding in India plummeted by over 62% in 2023, amounting to Rs 66,908 crore, compared to Rs 1,80,000 crore in the previous year, marking the lowest since 2018, according to a report by PrivateCircle Research. The report, titled “Startup Deals Report 2023,” highlighted a 72% decline in funding deal volume, with only two startups achieving unicorn status. Despite the slowdown, companies with strong fundamentals secured significant rounds, with Lenskart raising the largest funding of $500 million. The report anticipates a potential improvement in 2024 as venture capital funds remain well-positioned with available capital.