Startups raised over $10 bn for third straight quarter in Jan-Mar: Report
- IBEF
- April 12, 2022
According to a report by PwC India, Indian entrepreneurs have raised more than US$ 10 billion for three consecutive quarters, with the world's third-largest startup ecosystem raising US$ 10.8 billion in the first quarter of calendar 2022. The US$ 10.8 billion in capital was spread across 334 deals between January and March, according to the research titled 'Startup Deals Tracker - Q1 CY22,' with software-as-a-service (SaaS) companies receiving the largest portion of US$ 3.5 billion.
Moreover, throughout the quarter, investors spawned as many as 14 unicorns, or firms valued at over $1 billion, bringing the total number of privately held startup unicorns in the country to 82 as of March 31, 2022, according to the research. According to the research, five of the newly minted 14 unicorns were software startups. Growth-stage and late-stage agreements accounted for 89% of fundraising activity in the first quarter of 2022 in terms of value, while they accounted for 44% of overall deal volume, according to the research. According to the research, fintech, SaaS, edtech, logitech and autotech, and e-commerce business-to-consumer (B2C) were the top five sectors in the last several quarters, accounting for approximately 60% of total funding activity.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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