Indian deeptech startups count surges in 2023 but funding plummets 77 %: nasscom

India saw a significant surge in deeptech startups in 2023 with 480 new ventures emerging, making it the third largest pool globally, a report said.

However, the report by technology industry body nasscom and global consulting firm Zinnov highlighted the worrying trend of a funding winter, posing a major challenge for these startups.

‘India’s DeepTech Dawn: Forging Ahead’ report also said funding for scaling, talent attraction and retention, and global expansion are the top 3 challenges faced by startups in deeptech innovation.