Here are India’s biggest AI startups based on how much money they’ve raised
What is the current state of AI startup funding in India?
The current state of AI startup funding in India has seen a decline in recent years. In 2023, funding for AI startups dropped nearly 80% to $113.4 million from $554.7 million in 2022, according to the Tracxn data shared with TechCrunch. This is in contrast to the U.S., where AI startup funding grew about 211% to $16.2 billion in the same period.
What challenges are Indian AI startups facing in funding?
Indian AI startups are facing challenges in funding due to limited access to capital, high competition for funding, and a lack of government support2. Additionally, there is a shortage of skilled AI professionals and a limited market size for AI products and services in India. These factors contribute to the difficulty in securing funding for Indian AI startups.
How much has Lightspeed India invested in AI recently?
Lightspeed India has invested over $150 million in AI in the last 18 months, including new investments and follow-ons in existing AI-enabled startups1. Globally, the fund has invested more than $1 billion across over 70 companies in AI during the same period.