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Startup funding | PwC India | fundings
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Start-up funding in the country fell 33 per cent year-on-year (YoY) in calendar year 2022 (CY22) to $23.6 billion from $35.2 billion in the previous year, according to PwC India’s Start-up Deals Tracker — CY22 report.
This was still more than twice the funds raised in CY20 and CY19. The two years saw Rs $10.9 billion and Rs $12.8 billion in funding, respectively.
Early-stage funding, however, saw a 12 per cent increase this year compared to CY21. It accounted for 60-62 per cent of the total funding in terms of volume.
In terms of sectors, software as a service (SaaS) witnessed a 20 per cent increase in funding during CY22 and accounted for nearly 25 per cent of all funding activity this year.
“Despite the funding slowdown, some areas like SaaS and early-stage funding have remained robust. With significant dry powder waiting to be invested, it seems likely that the funding scenario will begin to normalise after 2-3 quarters. Until then, many start-ups are using this time to tighten operating models and optimise their cash runway. They are deferring discretionary spends and investments,” said Amit Nawka, Partner — Deals and India Start-ups Leader, PwC India.
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First Published: Wed, January 11 2023. 22:33 IST
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