With $10.8 billion, Bengaluru top city on startup funding in 2022, followed by Mumbai, Gurugram: Report
- ByStartupStory | January 10, 2023
Bengaluru topped the startup funding chart in India in 2022, with $10.8 billion, followed by Mumbai ($3.9 billion) and Gurugram ($2.6 billion).
According to Tracxn, a leading global market intelligence platform, startups in Delhi and Chennai received $1.2 billion in funding each, with Pune receiving $1 billion.
In 2021, Bengaluru-based startups raised $20.8 billion in funding, while Mumbai-based startups received $5.2 billion, demonstrating the impact of last year’s deepening funding winter.
In 2022, there were 22 unicorns, compared to 46 in 2021, and the average funding prior to the unicorn round was around $160 million.
For Indian startups, the average time from Series A funding to the Unicorn round is now 5.1 years.
There were no new unicorns in April, October, or November of 2022.
“India started experiencing funding winter in Q4 of 2021 and it has been on a declining trend since. Because of rising interest rates and fear of a worldwide recession, investments across all industries have been impacted,” said the Tracxn annual report.
As per report, In 2022, 11 technology IPOs were launched, matching the number from the same period in 2021. Among the major IPOs are Delhivery, Tracxn, and eMudhra.
According to the company, LetsVenture, AngelList, and Y Combinator have topped the list of most active investors in 2022 to date.
Byju’s has topped the list of highest funding raised in 2022. In 2022, it raised more than $1.2 billion from existing investors. This amounted to nearly half of all funding received in the edtech sector.
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