Tech funding hits 12-month low of $592 million in October; late-stage funding plunges 72%

Funding for Indian tech companies declined 24.3% month-on-month to the lowest level in the past 12 months to $592 million in October.

Tech companies raised $592.5 million during the month, compared to $782.8 million in September.

Meanwhile, late-stage funding dropped 72%, though the number of funding rounds rose to 104 from 81, according to data from Tracxn.