In 2023, venture capital (VC) funding into India's energy storage sector surged by 59%, reaching a total of USD 9.2 billion. Overall investments in the segment, however, experienced a 28% decline, totaling USD 9.8 billion, including funding through debt and public market financing. The year marked the highest-ever VC/PE funding in the energy storage space, surpassing the previous year's total of USD 5.8 billion.
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