April recorded lowest funding for Indian Startups In 2022
- ByStartupStory | May 2, 2022
The funding raised by Indian Startups fell to the lowest this year in the month of April. The Indian startup sector received $2.6 Billion in funding in April. This was a drop of approximately 23.5% as compared to March 2022, when the Indian startup ecosystem secured USD 3.4 Billion in funding.
Led by USD 805 Million fundraise by Verse Innovation, the parent company of Josh and Dailyhunt, the media and entertainment sector secured 32.3% of the total funding during April 2022. The month of April was also bereft of the birth of nay Unicorns as no startup was able to touch the USD 1 Billion valuation mark.
This is in contrast to April 2021, when eight startups joined the unicorn club.
In April, the city of Bengaluru continued to remain the undisputed startup capital of India, securing maximum funding and most deal. Despite overall funding declining in April month, the total number of deals increased, meaning smaller deals increased during the month. A total of 152 deals were recorded during the month of April, a major jump from 103 deals in April last month.
The majority of these deals were for the seed stage, while the other deals were mainly for the growth stage. The rise in acquisitions, decrease in funding, and increasing layoffs are all pointing towards the correction and will act as a litmus test for the thriving startup ecosystem of India.
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