After doing so in 2021 already, Bengaluru has again topped India¡¯s startup?funding chart for 2022 with a mammoth funding of $10.8 billion. In 2021, Bengaluru was India's top startup hub with 647 deals, followed by Delhi-NCR, Mumbai, Pune, and Chennai with 431, 271, 63, and 48 deals, respectively.? ?
And that's not all. Bengaluru was also on top in terms of producing unicorns and was the headquarters of 14 of the top 25 funded startups in 2021.?In 2021, the city was home to 19 of the 43 startups that became unicorns.This list includes Digit, Meesho, CRED, MPL, etc.
Also Read:?'Frustrated DropOut': Meet Bengaluru's 22-YO Entrepreneur Whose Tea Stall Accepts Crypto Payments
Bengaluru was followed by second-placed Mumbai at $3.9 billion, and Gurugram came in at third place with $2.6 billion in funding in 2022.??
Startups based in Delhi and Chennai registered $1.2 billion each in funding in 2022, followed by Pune at $1 billion, according to data provided by Tracxn, a leading global market intelligence platform.
A year before that, in 2021, Bengaluru-based startups had raised $20.8 billion in funding, and Mumbai-based startups had pocketed $5.2 billion in the same year, showing the impact of the deepening funding winter last year. There were 22 unicorns in 2022, compared to 46 in 2021, and average funding before the unicorn?round was around $160 million, as per an IANS report.??
It is now taking an average of 5.1 years from Series A funding to the unicorn round for Indian startups,?according to the report. Also, Indian startups are now taking around five years to scale from zero to $100 million in revenue, as per a recently released report.
"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.?The months of April, October and November in 2022 reportedly saw no new unicorns.
A total of 11 tech IPOs were launched in 2022, matching the number from the same period in 2021. LetsVenture, AngelList, and Y Combinator topped the list of most active investors in 2022 to date, according to the report.??
Also Read:?How To Be Financially Prepared For A?Recession
For the latest and interesting financial news, keep reading Indiatimes Worth.?Click here.