Startups get $10bn + for 3rd Qtr in a row, 14 New Unicorns
India’s startup ecosystem has created as many as 14 unicorns in the first three months of 2022, and for the third consecutive quarter, they have raised over $1-billion valuation in the country to 84, according to a PwC India report. This is the third consecutive quarter ending March 2022 when the fund inflows into the domestic startup eco-system have grossed over $10 billion in fresh funding.
The quarter also has seen as many as 14 startups becoming unicorns, the report said, adding the total fund inflow in Q1 stands at $10.8 billion.
According to the agency, the quarter saw maximum funds flowing into software-as-a-service (SaaS) companies, grossing more than $3.5 billion.
Unicorn creation continued to flourish with 14 startups attaining the coveted status in Q1 with the SaaS sector accounting for the largest share creating five unicorns.
The first quarter saw around 80 M&A transactions in the startup’s ecosystem, driven primarily by roll-up e-commerce companies.
Growth and late-stage startups accounted for 89% of the funding in Q1 in value terms, representing 44% of total deals in volume.
