Flight to quality: Growth-stage funding consolidates for a few

After years of muted activity in India’s growth-stage funding market, Series B and C rounds are showing strong signs of capital consolidation this year, even as overall funding continues to dip. Data from Tracxn shows that while deal volumes are shrinking across stages, cheque sizes are rising primarily in growth-stage rounds. This suggests that once the early bets are made, investors are backing fewer companies but with greater conviction.