Startup funding crosses $10Bn in Q1
By MYBRANDBOOK
The startup ecosystem has created as many as 14 unicorns in the first three months of 2022 and have received over USD 10 billion across 334 funding deals. The creation of 14 more unicorns takes the overall tally of startups with over USD 1 billion valuation in the country to 84 now.
This is the third consecutive quarter ending March 2022 when the fund inflows into the domestic start-ups ecosystem have grossed over USD 10 billion in fresh funding. It is reported that the quarter saw maximum funds flowing into SaaS companies, grossing more than USD 3.5 billion.
Amit Nawka, the startups leader at PwC India, said, “The quantum of investments into SaaS ecosystem has a threefold increase in the last three years and the pandemic has only boosted this ecosystem globally, given the rising importance of remote working, productivity and overall digital transformation.
The first quarter saw around 80 M&A transactions in the startup ecosystem, driven primarily by roll-up e-commerce companies. Curefoods, Mensa Brands, GlobalBees and MyGlamm, which have M&As as their core business strategy, continued to be the top acquirers in Q1 as well and Upscalio and Evenflow are other roll-up e-commerce companies that have joined this bandwagon.
The past year has seen the emergence of 15 SaaS businesses in the unicorn category in the country, including Darwinbox, Fractal, Uniphore, Hasura and Amagi Media Labs. Growth- and late-stage start-ups accounted for 89 percent of the funding in Q1 in value terms, representing 44 percent of the total deals in volume.
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