Indian Tech Startup Funding Report Q3 2022

The Indian startup ecosystem has started witnessing a major decline in funding. In Q3 2022, Indian startups recorded an 82% year-on-year decrease in quarterly investments and a 90% decrease in the mega deals ($100 Mn or above), signalling the onset of major funding winter for the startup ecosystem. 

Other indicators suggesting the same include — a 91%, 55% fall in late and growth stage funding inflow; and a 69% drop in startups attaining unicorn status.
Other indicators suggesting the same include— a 91% increase in the late stage venture capital inflow from $14 Bn in Q3 2021 to $1.3 Bn in Q3 2022, a 55% decrease in growth stage funding from $2.7 Bn (Q3 2021) to $1.2 Bn in Q3 2022 and 69% drop in new unicorn count from 13 (in Q3 2021) to 4 (Q3 2022).

Show More
Download This Report
Indian Tech Startup Funding Report Q3 2022

Quoted & Trusted By

the economist
business insider
cb insights
the huffington post
the economic times
live mint
the times of india

Key Highlights

$3 Bn

raised across 334 funding deals


total number of unique investor participation

$11 Mn

average ticket size of startup investments


top startup sector in Q3 2022

Table Of Contents

  • India’s Digital Economy In A Nutshell
  • Snapshot Of Indian Startup Ecosystem Q3 2022
  • Top 10 Biggest Funding Rounds Of Q3 2022
  • Q3 2022: Funding & Deal Count Trends
  • Q3 2022: Funding Stage Wise Analysis
  • Q3 2022: Sector Stage Wise Analysis
  • Q3 2022: Startup Hub Wise Analysis
  • Most Active Indian Startup Investors In Q3 2022
  • Q3 2022: Mergers & Acquisitions
  • The State Of Indian Unicorns & Soonicorns
  • India's Unicorn Club - An Overview
  • Indian Startup Investor Sentiment Survey Q3 2022
  • Key Developments From The Indian Startup Ecosystem


After witnessing the gold rush, Indian startup ecosystem is now heading for a funding winter. According to Inc42 findings, funding for Indian startups has gone down to 2020 levels. Besides fall in overall numbers, late stage startups faced the biggest hit. Fall in average tick size and mega deals, all signal a major downturn in capital inflow for Indian startups — despite the face that Indian venture funds raised over $16 Bn to back Indian startups (almost 2.6X more than entire 2021). If the funding winter intensifies in the coming quarters of the financial year 2023, the demand for startups with strong operating profits and unit economics is poised to increase.

Latest Inc42 Reports