Indian startups raised a total of nearly Rs 13,800 crore ($1.65 billion) in February this year, a 19.5 per cent increase from nearly Rs 11,460 crore ($1.38 billion) in January, according to a new report.
The Department for Promotion of Industry and Internal Trade (DPIIT) has formed a landmark partnership with the Startup Policy Forum (SPF) to establish India as a global hub for innovation and entrepreneurship.
As AI continues transforming sectors like healthcare, finance, manufacturing, and education, implementing proactive measures to ensure its responsible development is crucial, they emphasised.
Moreover, 13 early-stage startups secured funding worth $33 million during the week.
In its message to Indian Startups, the Confederation of Indian Industry (CII) asked them to keep their valuation realistic and distinguish between the organization's and its founder's goals.
The Indian startups continued to raise funds at a normal pace, and last week, 22 startups secured over $447 million in the country.
At current valuations, it translates to approximately 4.5x return for VCs on their investments, the report mentioned.
The hiring for chief experience officer (CXO) has decreased by a massive 93 per cent since October 2021, according to the annual insights report by RazorpayX Payroll, the business banking platform of Razorpay.
"The decade 2021-30 is expected to bring transformational changes for Indian science, technology and innovation (STI)," said the Minister.
As new consumer habits are shaped by Covid, the user-base of the Indian consumer internet sector has grown rapidly.
