Startup funding News

In the third quarter (July-September), domestic startups raised more than $4 billion, including several transactions over $300 million and $200 million, along with pre-IPO rounds. 

PhonePe, a leading payments company, stands out as the top-funded company in the sector, securing a total of $750 million in four Series D rounds which makes up for 38 per cent of the funding received by the sector. Perfios, Insurancedekho, and Kreditbee, are some of the other top-funded companies in the sector this year.

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The funding winter continues in India`s start-up ecosystem and globally, and it`s uncertain when this will end. The average deal ticket size declined from USD 23 million in Q2 2022 to USD 13 million in Q3. Funding in growth- and late-stage deals continued to decline, with an average ticket size of USD 13 million in Q3 CY22.

DPIIT said that loan/debt facilities sanctioned to an eligible borrower on or after October 6, would be eligible for coverage under the scheme. This scheme would help provide the much needed collateral-free debt funding to startups, it added. These institutions should also have to closely monitor the borrower account.

The early-stage deals comprised more than 60 per cent of the total with an average ticket size of USD 5 million. It further said that early-stage deals comprised more than 60 per cent of the total deal volumes. The report further said Bengaluru, National Capital Region (NCR) and Mumbai continue to be the key startup cities in India.

The quarter also has seen as many as 14 startups becoming unicorns. The total fund inflow in Q1 stands at USD 10.8 billion. The quarter saw maximum funds flowing into software-as-a-service (SaaS) companies.

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Yogi Adityanath said a large number of migrant workers have come to Uttar Pradesh at this time and the state government is looking to provide them employment as per their skill.

The government is in the process of setting up a Rs 2,000 crore credit guarantee fund with a view to providing funding facilities to startups, a top official today said.

Funding activity in the national capital region witnessed a slowdown with deals signed worth USD 170 million in 155 transactions so far this year, says a report.