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The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively, as per the report by industry lobby IVCA and consultancy firm EY
For the January-March quarter, the deal activity declined by 21 per cent by the value of investments to $13.3 billion as compared to the year-ago period
The funding will be utilised for serving a new customer pipeline, expanding its global presence and accelerating hiring to augment its product engineering, sales and delivery teams