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Momentum is stalling and the data shows just how sharply.
This comprehensive, data-driven report tracks conversion rates across funding stages in India,
revealing how many startups raise their next round and how long it takes.
Seed to Series A
1 in 8 startups from the Q2-Q4 CY20 cohort raised Series A within 21 months. The highest in Indian VC history.
Today, just 1 in 42 from the Q4 CY23 cohort have raised Series A. That number hasn’t moved in 9 months.
Deal Activity at a
Decade Low
Q4 CY24 and Q1 CY25 are tracking the lowest Seed and Series A deal
activity in 10 years
Every funding round tells a story.
Series A to Series B
1 in 3 from the Q3-Q4 CY20 cohort raised Series B within 21 months.
Today, only 1 in 46 startups from the Q4 CY23 cohort have done so, stagnant for over 15 months.
Time to Next Round is Slowing Down
The runway from Seed to Series A and Series A to B is at its highest-ever median duration.
Beyond The Dip Lies Direction
And Opportunity.
Register now for a detailed report.
*First edition drops in 14 days.
*Report will be updated every 60 days.
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