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CXXO, an initiative by Kalaari Capital aimed at empowering women-led ventures, has released the CXXO State of Female Entrepreneurship in India report.
The report offers actionable steps to systematically bridge entrepreneurial disparities and drive meaningful ecosystem transformation.
The report, which highlights key findings on the gender funding gap, unconscious biases, and the resilience of women entrepreneurs, found that for every INR 100 invested in startups, only INR 16 went to those with at least one female co-founder, and a mere INR 4 was allocated to startups led by female CEOs.
Adding to the bias, it noted that female-led startups receive nearly half the funding amounts of male-led ventures. Only 16% of the total capital raised in the startup ecosystem from January 2022 to October 2024 was allocated to women-co-founded startups.
Moreover, the report noted that 60% of female founders experience imposter syndrome, with 40% citing a lack of role models. Female founders also lacked female role models they could look up to.
However, the report also sheds light on positive trends. Female investors are twice as likely to mentor female founders, showcasing the critical role gender diversity in VC firms plays in nurturing women entrepreneurs.
At the report’s launch event, Vani Kola, Managing Director of Kalaari Capital, remarked, “The venture capital ecosystem faces a systemic challenge in addressing the barriers for women-led startups. Investing in these ventures is essential for driving innovation and progress, fueling India’s entrepreneurial ambitions. At CXXO, we’re committed to breaking barriers and creating opportunities for women founders.”
Launched in 2021, CXXO operates on three pillars: Capital, Community, and Coaching. The initiative aims to level the playing field for female founder-CEOs, enabling them to shape India’s digital future.
The CXXO State of Female Entrepreneurship in India report is a call to action for investors, stakeholders, and policymakers to collaborate in creating an inclusive ecosystem. By addressing these challenges, the initiative seeks to unlock the untapped potential of women entrepreneurs, fueling economic growth and innovation.
Founded in 2006 and based in Bengaluru, Kalaari Capital is an early-stage VC firm committed to empowering visionary entrepreneurs to reshape India’s digital landscape through trust, authenticity, and long-term partnerships.