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Startup Funding in India dropped by 33%: Report 

IANS by IANS
January 11, 2023
Startup Funding in India dropped by 33%: Report 

Image source: Pixabay

Funding for the Indian startups in CY22 was nearly $24 billion, a drop of 33% compared to CY21 but was still more than twice the funds raised in CY20 and CY19 each, a report showed on Wednesday. 

Early-stage deals accounted for 60-62% of the total funding in CY21 and CY22 (in volume terms). The average ticket size per deal was $4 million per deal, according to the PwC India report.

“With significant dry powder waiting to be invested, it seems likely that the funding scenario will begin to normalise after 2-3 quarters,” said Amit Nawka, Partner-Deals and India Startups Leader, PwC India.

He added that many startups are using this time to tighten operating models and optimize their cash runway by deferring discretionary spending and investments.

The software-as-a-service (SaaS) segment witnessed an increase of 20% in funding values during CY22 compared to CY21 and accounted for nearly 25% of all funding activity.

Growth and late-stage funding deals accounted for 88% of the funding activity in CY22 (in value terms).

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The average ticket size in growth-stage deals was $43 million, and late-stage deals were $94 million during CY22.

Bengaluru, Delhi-NCR and Mumbai account for nearly 82% of total Indian startups. 

The report mentioned that about 28% of the startups in the top three cities have raised more than $20 million.

Also Read: Technology remains the main driver for insurance companies to scale and grow in 2023

IANS

IANS

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