The Great Rationalization: How a 17% Funding Dip Revealed India’s Startup Maturity
If 2024 was a year of recalibration for India’s startup ecosystem, 2025 was the year of rationalization. According to data from Tracxn and other industry trackers, Indian tech startups raised approximately $10.5 billion in 2025—a 17% year-on-year decline from 2024’s $12.7 billion. On the surface, this dip might signal a contraction. But a closer examination of the data reveals a more powerful narrative: this is the sound of an ecosystem growing up, shifting decisively from “growth at any cost” to “growth with responsibility.”
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