AI Startup Funding & Acquisition Report 2023

Artificial Intelligence is no longer a fringe technology in India. Rapid digitalisation in various industries such as banking, financial services and insurance (BFSI), telecommunication, healthcare and automotive have raised a demand for AI-integrated systems. This has fuelled the growth of startups providing AI and related services across different sectors to solve business challenges. With the increasing adoption of AI and related technologies, the funding of enterprises providing such services has seen an uptick over the years. However, in 2022, there has been only a marginal increase in funding for AI startups. Funding has increased marginally from $1,108 Million in 2021 to $1,109.62 Million in 2022. Moreover, funding rounds have decreased sharply from 135 in 2021 to 47 in 2022.