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33% dip in startup funding at $6.9 bn in April-June
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IANS | 07 Jul, 2022
The funding in the Indian startup ecosystem nosedived by a huge 33 per
cent to $6.9 billion in the April-June period (Q2), from $10.3 billion
in the first quarter (Q1) this year, amid the economic meltdown and
layoffs in the funding winter, a report showed on Thursday.
In
Q2, 121 new startups closed their first funding rounds, four startups
turned unicorns, 62 startups got acquired, and five filed their IPOs,
according to data intelligence platform Tracxn Technologies.
The
Indian startups raised $6.9 billion in Q2 in 409 funding rounds and the
top startups were VerSe ($805 million), Delhivery ($304 million), and
udaan ($275 million).
They were followed closely by ShareChat ($255 million) and upGrad ($225 million).
Bengaluru, Delhi, and Mumbai are the top cities attracting the maximum investments, as per the report.
"We
aim to give industry stakeholders key insights of the ecosystem that
would help in business decision making that is backed by extensive
market intelligence and thorough research and data analysis," said Neha
Singh, Co-Founder, Tracxn.
With Leadsquared, Purplle,
PhysicsWallah, and Open becoming new unicorns, the total valuation of
unicorns escalated to $31.8 billion in Q2.
With respect to exits,
while eMudhra, Delhivery, Handicrafts village, Eighty Jewellers, and
Veranda Learning Solutions filed for IPOs, Blinkit (By Zomato),
Whiteteak (By Asian Paints), and MyHQ (By ANAROCK) were the top
acquisitions in the second quarter.
Social Platforms, internet
first media, payments, B2B e-commerce and e-commerce enablers are the
top sectors receiving the most funding from investors between April and
June, the report mentioned.
The total funding in Q2 also
witnessed a decline in comparison to the same quarter last year (Q2
2021), where the total funds raised were $10.1 billion.
"Though
investors are a little wary due to the current environment it hasn't
dampened the investment spirit of the community. They have become more
decisive about the startups they want to nurture and are focusing
extensively from a long-term gain perspective," said Abhishek Goyal,
Co-Founder, Tracxn.
While IPV and Blume Ventures topped the
investment charts in seed-stage startups, Sequoia Capital and Accel
ranked highest in the early-stage startups funding standing.
Sofina and DST Global are the leading late-stage institutional investors, theATracxn report mentioned.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
|
84.65 |
Euro
|
78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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