India’s startup ecosystem faced a funding decline of 65.8%, raising only $6.9 billion across 1,013 venture capital (VC) deals during January-November 2023, compared to $20.2 billion in the previous year. A report by GlobalData reveals that the US also experienced a decline of 42% in deals volume and 44% in deals value. Despite the challenging funding winter, Indian startups remain optimistic as VC firms still find India an attractive market.