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India now has nearly 27,000 active tech startups, adds 1,300 last year

by Admin
February 15, 2023
in Business, Startup
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India now has nearly 27,000 active tech startups founder face magazine
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India’s tech startup ecosystem is still the third largest in the world, behind China and the United States. In addition, the country brought in the second most unicorns in the world—more than 23—in the year2022.
According to the report that was produced by the National Association of Software and Services Companies (Nasscom) in collaboration with Zinnov, the potential pipeline of unicorns grew simultaneously to more than 170 and will continue to expand at a rate equivalent to that of 2021.
Debjani Ghosh, President of Nasscom, stated, “Despite the current downturns, opportunities abound for innovative companies that are leveraging emerging technologies to create actionable impact while prioritizing business fundamentals over growth.”
Despite the challenges, annual investments of $18.2 billion were higher than the levels of $13.1 billion in 2019 prior to the pandemic, despite a 24% decrease in total funding over 2021.

Additionally, unique startups and non-unicorns received significant investment attention throughout the year.
In 2022, almost 1,400 distinct startups received funding, an 18% increase from 2021. According to the report, 47% of startups raised their first round in 2022.
Over the course of 2021, investments in both the early stage ($1.2 billion in CY2022) and the seed stage ($5.9 billion) increased by between 25 and 35%.
1,018 investments were made in seed-stage tech startups in 2022.
Due to a significant correction in the global public markets, late-stage investments saw a 41% decrease in deals larger than $100 million.

“The ecosystem’s maturity, in which founders deliberately prioritize profitability over valuation and investor trust despite the influence of macroeconomic factors, is remarkable. “This will clear the way for growth in 2023 and beyond,” stated Zinnov CEO Pari Natarajan.
According to the report, tech startups are anticipated to continue increasing innovation and deep-tech adoption, particularly in SDG-related areas requiring complex solutions.

Tags: Venture Capital

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