New Delhi, Nov. 3 -- India's startup funding market is undergoing a correction, with late-stage and angel investments declining sharply as global investors turn more selective and redirect capital towards other markets and sectors.

Rupee depreciation and intensifying competition, particularly from the US, have made fundraising harder for Indian startups and venture capital (VC) funds. Investors are also reassessing valuations and demanding stronger business fundamentals before committing capital.

The slowdown follows an exceptional funding boom in 2020 and 2021, which experts attribute to excessive liquidity and valuations that proved difficult to sustain.

Late-stage funding, which peaked at $29.7 billion in 2021, fell to $6.1 billion ...