The report said early-stage deals accounted for 60-62 per cent of the total funding in 2021 and 2022 in terms of volume and the average ticket size per deal was $4 million per deal.
Funding for India's startups dropped by 33 per cent to $24 billion in 2022 as compared to last year. However, this was almost double the amount recorded in 2019 or 2020, said a PwC India report on Wednesday.
According to the report titled 'Startup Tracker - CY 22', global investors were still positive about the Indian startup ecosystem despite the global slowdown.
"Funding for Indian startups in CY22 was around $24 billion, a decline of 33 per cent compared to CY21, but still more than double the amount raised in CY20 and CY19 each", it said.
Startups received a total of $13.2 billion in funding in 2019, $10.9 billion in 2020 and $35.2 billion in 2021.
“Enthusiasm remains in certain areas such as SaaS (software as a service) and early stage funding. With significant dry powder investments awaited, it looks like the funding landscape may start normalizing after 2-3 quarters Will go," Amit Navka said. , Partner - Deals & India Startups Leader, PwC India
Meanwhile, he said, many startups were using the current situation to tighten operating models and optimize cash runway by postponing discretionary spending and investments.
The report said that early-stage deals accounted for 60-62 per cent of total funding in terms of volume in 2021 and 2022 and the average ticket size per deal was $4 million per deal.
In terms of value, it added, early-stage deals would account for about 12 per cent of total funding in 2022, compared to about 7 per cent in 2021. Growth and late-stage funding deals accounted for 88 percent of funding activity in 2022. In value terms, represents 38 percent of the total number of deals.
According to the report, the average ticket size for growth-stage deals during 2022 was $43 million and late-stage deals was $94 million.
With respect to city-wise startup funding, the report said, Bengaluru, NCR and Mumbai account for nearly 82 per cent of the total Indian startups by December 2022. 28 per cent startups in the top three cities have raised additional funds. of USD 20 million.
The highest number of unicorns were sighted in Bengaluru, followed by NCR and Mumbai. The report states that similar trends have been observed for other companies that have raised more than USD 50-100 million.
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