Start-up investments in India witnessed a significant decline in Q1 2023 compared to the same period in 2022 due to a rise in interest rates and inflation
The average deal size for early-stage start-ups was reportedly nearly $4 million. PhonePe's $350 million and KreditBee's $120 million funding round accounted for nearly 40 per cent of the overall financing in January
The additional capital raised will be deployed towards scaling the existing business and diversifying its product offering by venturing into digitally enabled financial products
