India now has nearly 27K active tech startups, added 1,300 last year

According to a NASSCOM report, India added more than 1,300 active digital companies in the past year, bringing the country's total to 25,000–27,000. India is still home to the third-largest worldwide ecosystem for tech startups (after the US and China). The country also added the second-highest number of unicorns in the world, with over twenty-three added in 2022.

According to a survey by the National Association of Software and Services Companies (NASSCOM) in partnership with Zinnov, the potential pipeline of unicorns expanded simultaneously to over 170, growing at a pace equivalent to 2021.

"Despite the current downturns, opportunities abound for innovative organisations that are harnessing emerging technology to produce measurable impact while prioritising business fundamentals above development," said Mr. Debjani Ghosh, President of NASSCOM.

Despite the challenges, annual investments at US$ 18.2 billion were greater than the pre-pandemic levels of US$ 13.1 billion in 2019 despite the fact that total funding in 2022 decreased by 24% over 2021.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.