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India added over 1,300 lively tech startups final 12 months, taking the entire tally of lively tech startups to 25,000-27,000, a Nasscom report mentioned on Wednesday. India continues to be the third largest tech startup ecosystem globally (after the US and China). The nation additionally added the second highest variety of unicorns on the planet, with over 23 added within the CY2022.
Concurrently, the potential pipeline of unicorns expanded to over 170, rising at a tempo equal to 2021, in response to the report by the Nationwide Affiliation of Software program and Providers Firms (Nasscom), in collaboration with Zinnov.
“Regardless of the present downturns, alternatives abound for progressive firms which are leveraging rising applied sciences to create actionable affect whereas prioritising enterprise fundamentals over progress,” mentioned Debjani Ghosh, President, Nasscom.
Regardless of the headwinds, whereas complete funding in CY2022 dropped 24 per cent over 2021, the annual investments at $18.2 billion had been increased than the pre-pandemic ranges of $13.1 billion in 2019. The 12 months additionally witnessed a major funding give attention to non-unicorns and distinctive startups. Virtually 1,400 distinctive startups acquired funding in 2022, 18 per cent increased than in 2021. Amongst these, 47 per cent of startups raised their first spherical in 2022, the report talked about. Each early-stage ($5.9 billion in CY2022) and seed-stage ($1.2 billion) investments grew between 25-35 per cent over 2021.
In 2022, tech startups within the seed-stage secured 1,018 investments.
Late-stage investments bore the brunt with a decline of 41 per cent in deal sizes higher than $100 million, attributable to appreciable correction within the world public markets. “What’s exceptional is the ecosystem’s maturity, the place founders are deliberately prioritising profitability over valuation and the investor belief, regardless of macroeconomic variables at play. This can pave the way in which for progress in 2023 and past,” mentioned Pari Natarajan, CEO, Zinnov.
Tech startups are anticipated to proceed growing innovation and deep-tech adoption, significantly in areas associated to SDGs (Sustainable Growth Targets) that require complicated options, the report mentioned.
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