According to the 2023 annual report of WinPe, a not-for-profit organization by private equity investors for gender diversity, venture capital (VC) funding for women fell to 9.3 per cent in 2023 from 14.7 per cent in 2021. This was first reported by the Economic Times. Female founders in India received less than 10 per cent of funding in the year, trailing Europe and the US and widening the gender disparity gap even further.