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Startup Update: Funding decreased by 33% in startup companies, see what is the reason

Startup India Failure : The Central Government had started Startup India keeping in mind the youth and working women of the country. All these startups that emerged as employment are now slowly proving to be weak. You would know that in the last few months in the country, startups have thrown out 12000 youths from their jobs. In the first quarter of the current financial year, the amount raised by Indian startup companies has fallen by 33% to $ 6.9 billion.

11000 out
In the Corona era, there were bumper jobs in startups and fintechs related to EdTech i.e. Online Classes, but now they are in the worst condition. 25 startups in the country have fired 11,695 people since January this year. Most layoffs are Ola (2100), Blinkit (1600), Whitehat Junior (1300), Lido Learning (1200), Unacademy (925), Vedantu (624), Course-24 (600), mfine (600), Trail (400) ), Topper (300) did it. Most of the layoffs were done by e-commerce companies, while Edutech came second.

Here is the status of startup
According to a report by market intelligence platform Traxon, Indian startups raised $6.9 billion in funds in the April-June quarter, down 33 per cent from $10.3 billion in the January-March quarter. This figure is also less compared to April-June, 2021. Indian startups raised $10.1 billion in funding in the same period a year ago. According to the report, Indian startups raised a total of $6.9 billion in 409 rounds of financing in the April-June quarter. The slowdown in the finances available to Indian startups seems to be the main reason behind the decline in funding.

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