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India's startup funding to drop by 33% to USD 24 billion in 2022

Published on January 13, 2023
Current Context: According to the PwC India report "Startup Tracker-CY22," funding for Indian startups decreased by 33% to USD 24 billion in the calendar year 2022 (CY22) from CY21. However, it was still more than twice as much as the sum raised in CY20 and CY19 put together.
India's startup funding to drop by 33% to USD 24 billion in 2022
  • A total of USD 13.2 billion, USD 10.9 billion, and USD 35.2 billion were invested in startups in 2019, CY20, and CY21, respectively.
  • Early-stage deals represented almost 12% of the total capital in CY22 in value terms, up from slightly under 7% in CY21. It proved that, despite the global slump, investors were optimistic about the Indian start-up environment.
  • Early-stage agreements represented 60–62% of total funding in volume terms in CY21 and CY22, with an average ticket size of USD $4 million. The SaaS (Software as a Service) sector accounted for over 25% of total funding activity in CY22, with funding levels increasing by 20% from CY21 to CY22.
  • Growth and late-stage fundraising deals made up 38% of all deals in CY22, but they accounted for 88% of funding activity in value. Funding for late-stage deals fell by 52% in CY22.
  • The average ticket size for growth-stage and late-stage agreements in CY22 was 43 million dollars for growth-stage deals and 94 million dollars for late-stage deals.
  • In terms of city-level startup investment as of December 2022, Bengaluru (Karnataka), the National Capital Region (NCR), and Mumbai (Maharashtra) accounted for over 82% of all startups in India.
  • The sixth iteration of HDFC Bank's "Parivartan SmartUp Grants," an annual grants program for social businesses, was launched in December 2022 in collaboration with the Government of India's (GoI) flagship program "Startup India."


Q.1 Who released the report Startup Tracker-CY22?
a. CwC India
b. PwC India
c. MSME ministry
d. SBI
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