NCR Startups Face Funding Crunch; Attract Just $170M in 2016
Funding activity in the national capital region witnessed a slowdown with deals signed worth $170 million in 155 transactions so far this year, says a report.
According to 'VCCEdge Startup Funding Insights' the NCR startup ecosystem witnessed funding crunch and attracted $170 million (about Rs 1,140 crore) this year.
"At the going run-rate, funding deals for the year 2016 may not be able to cross the 2014 deal value of $289 million," the report said. The year 2015 was a landmark year that registered a deal value totalling $608 million as against $289 million in 2014.
"The slowdown is attributed to investor pragmatism and selectiveness in funding enterprises that have business models that best optimise the funding they receive. Startups have to, perforce, 'Conserve and Grow...