Bengaluru-based startups raised $11 Bn funding in 2022, compared to $21.3 Bn 2021
In terms of average ticket sizes in 2022, Bengaluru lost its top spot to Chennai
Bengaluru minted six unicorns across sectors during the year
Startups cradling in the country’s top three startup hubs – Bengaluru, Mumbai, and Delhi NCR – were impacted the most due to the funding winter of 2022, when investors returned to their cocoons, leaving many founders high and dry.
According to the data compiled by Inc42, funding activities at Bengaluru-based startups declined 48% year-on-year (YoY), from $21.3 Bn in 2021 to $11 Bn in 2022, compared to the national average of 40%. Nation-wide, startup funding declined to $25 Bn in 2022 from $42 Bn in 2021. Meanwhile, startups based in Delhi NCR and Mumbai saw a funding decline of 49% and 42% respectively.