| | AUGUST 20234The startup funding winter is well and truly here. According to a recent PwC India research report, Indian startups raised $3.8 billion in the first half of 2023 (January to June), which interprets as a massive drop off of 36 percent compared to the fundraising in H1 of 2022. The report also points out that this is the lowest six-month funding in the last four years. However, Fintech, SAAS, and D2C remain the most funded sectors in H12023.Commenting on the occasion, Amit Nawka, Partner - Deals & India Startups Leader, PwC India, shared some warm words for startup entrepreneurs. He says, "A funding winter is just a season in a startup's journey. There is a slowdown in startup funding despite significant untapped capital reserves held by venture capitalists (VCs). Active VC firms in India have secured new funds in the past year, and we can expect the pace of investments to pick up in the next few months."While startups navigate this dry season, Mumbai's startup ecosystem has been at the receiving end of some good news as the State Bank of India (SBI) established another special branch at Mumbai's Bandra Kurla Complex dedicated to startups. After Bengaluru, Chennai, and Gurugram, this is the fourth startup-focused outpost and the first in Mumbai. SBI's move is powered by several memoranda of understanding in place in Mumbai with the S.P. Jain Institute of Management & Research (SPJIMR), the Centre for Incubation and Business Acceleration (CIBA), and the Society for Innovation & Entrepreneurship (SINE) at IIT-Bombay. SBI chairman Dinesh Khara says, "The main goal of this branch is to provide end-to-end support to startups at every stage of their journey, starting from the formation of the entity to their IPOs and FPOs." We dedicate this issue to leaders from the financial capital of the country. Do let us know your thoughts.Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comIt's Winter All-around Editorial Vol 04 · Issue 5 - 1 · AUGUST, 2023 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Senior Designer Girisha M Visualizers Asokan S. V. Hari Shankar P A NoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comAdvertising ManagersGarimaTo subscribeVisit https://www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs. 150 per issuePublisher Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2023 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.VP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Hima P. M. Nalini Brahmanapalli Roopalatha H P Tejaswini
< Page 3 | Page 5 >