Startup Funding In Bengaluru Tanked 48% YoY In 2022

Startup Funding In Bengaluru Tanked 48% YoY In 2022

SUMMARY

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.

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