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India currently has over 8,000 tech-based startups that have a women founder, which have raised $23 billion till date, according to a report by data intelligence Tracxn. The tech startups have raised $155 billion in total funding, with women-led startups raising $23 billion, representing 14.8 per cent share of the overall tech funding pie.
Also read: Startups dominate the list of Karnataka based companies in 2023: Hurun India Report
Of the 8,000 startups, 2,316 have received funding till date, according to the report. Nearly 6,000 firms are unfunded, of which 590 companies have a revenue of more than $30,000.
However, funding into women-led tech startups fell 75 per cent to $1.1 billion in 2023 from $4.5 billion in 2022, the data showed, with 2021 being the highest funded year with $6.5 billion for women-led startups in a decade.
The share of funding raised by women-led startups in the country has risen in the past decade, accounting for more than 15 per cent of the overall startup funding in India from 2020 till 2022. In 2023, 13 per cent of the overall funding in tech space came from women-led startups with women-led startups securing $1.1 billion. The first two months of 2024 in this space have witnessed $100 million in funding.
Delhi-NCR leads
Delhi-NCR region took the lead in terms of the number of women-led startups, with over 2,300 firms formed to date, followed by Bengaluru and Mumbai. However, Bengaluru ranked first in terms of funding, with about $9.5 billion raised for women-led tech startups. Tier-II cities Jaipur and Indore also featured in the top 10 list.
Sectors thriving
The sectors where women-led startups have thrived are B2C e-commerce (3,434), followed by internet-first brands companies (1,355) and SaaS companies (1,181). “Thriving sectors also encompass fashion tech, marketplaces and B2C fashion e-commerce. The industry landscape further showcases substantial activity in enterprise software, internet-first fashion brands, K-12 ed-tech and online grocery,” the report said.
LetsVenture, Wellfound and Venture Catalysts are the most active investors in companies founded by women.
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