$12 billion raised by domestic startups in Q1 2022
$12 billion was raised by domestic startups in the first three months of 2022, up from $4 billion in the same period a year earlier, according to a report.
According to data tracking platform Fintrackr, 528 startups, including 324 in the early stage and 123 in the growth stage, announced their funding rounds worth $12.06 billion in the first quarter of this year. .
In December, data provided by a leading startup publication indicated that India had 82 unicorns with total funding of over $38.4 billion (from 2014 to December 4, 2021).
India has become the world’s third-largest startup ecosystem this year, after the United States and China, according to the Hurun Research Institute.
In the third quarter (Q3) of last year, Indian startups received record funding, with investments totaling $10.9 billion across 347 deals, according to a report from PwC India.
Meanwhile, a recent report indicates that accelerating fundraising activity is expected to create over 100 unicorns in India in 2022.
Over the past five years, the number of software-as-a-service (SaaS) companies has doubled in India, and SaaS companies in the country are expected to reach $30 billion in revenue by 2025.