Indian deeptech startups count surges in 2023, funding drops 77%: Nasscom

India saw a significant surge in deeptech startups in 2023 with 480 new ventures emerging, making it the third largest pool globally, a report said.

However, the report by technology industry body nasscom and global consulting firm Zinnov highlighted the worrying trend of a funding winter, posing a major challenge for these startups.

'India's DeepTech Dawn: Forging Ahead' report also said funding for scaling, talent attraction and retention, and global expansion are the top 3 challenges faced by startups in deeptech innovation.

"India currently has 3600+ deeptech startups, out of which 480 were established in 2023 itself, nearly 2X more than the number of deeptech startups established in 2022," the report said.

But India's deeptech promise is stunted by a funding gap.

"Compared to startups across some other leading deeptech ecosystems, Indian deeptech startups receive a fraction of the median investment at every stage. This lack of funding restricts the ability of some promising .