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Last updated: 10 Jan, 2023  

startup.thmb.jpg Startup funding winter

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Bikky Khosla | 10 Jan, 2023

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.

Meanwhile, the Department for Promotion of Industry and Internal Trade is organizing ‘Startup India Innovation Week’ from today. The event, which will came to an end on January 16, will celebrate the Indian Startup Ecosystem as well as National Startup Day (16th January 2023). A series of Knowledge Sharing Sessions will be organized on this occasion, which I think could be a learning opportunity for our aspiring entrepreneurs.

I invite your opinions.

 
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