Tradeindia Exim Newsletter | 10 January 2023
10, January 2023
Startup funding winter

At $10.8 billion, Bengaluru based startups raised the highest amount to funds in 2022. Mumbai secured the second position, with $3.9 billion funding, followed by Gurugram at $2.6 billion. Delhi and Chennai based startups raised $1.2 billion each while startups based in Pune pocketed $1 billion in funding. This data, released by a leading global market intelligence platform, reflects the impact of the deepening startup funding winter in India.

Overall startup funding fell over 30 percent in 2022 when compared to 2021 -- another recent report reveals, adding that Indian startups raised $12 billion in the first quarter and $8 billion in second quarter. During the second half the year, the fall was steeper, with monthly average standing at around $1 billion, from $3 billion during the first half. Also, the number of unicorns was 22 in 2022, against 46 in 2021.

No doubt, the global funding slowdown has impacted Indian startups in 2022, and according to some experts, this funding winter may continue for the next 12-18 months – a situation which demands Budget support from the government in the form of sops to incentivise employment and funding in the sector. Our industry bodies have already put forward several important suggestions in this regard, which need urgent attention from the government.

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