According to a Nasscom report released on Wednesday, India added more than 1,300 active digital companies last year, bringing the country’s total to 25,000–27,000.
To Begin With
Based on a Nasscom report released on Wednesday, India added more than 1,300 active digital companies in the past year, bringing the country’s total to 25,000–27,000. India is still home to the third-largest worldwide ecosystem for tech startups (after the US and China). With almost 23 added in CY2022, the nation also added the second-highest number of unicorns in the world. This post is included with several information on Number of Tech Startup in India and many more.
According to a survey by the National Association of Software and Services Companies (Nasscom), in partnership with Zinnov, the potential pipeline of unicorns increased simultaneously to over 170, expanding at a rate similar to 2021.
As according Debjani Ghosh, President of Nasscom, “despite the current downturns, opportunities abound for innovative organisations that are harnessing emerging technology to produce measurable impact while prioritising business fundamentals above development.”
Despite the challenges, annual investments at $18.2 billion were greater than the pre-pandemic levels of $13.1 billion in 2019 despite the fact that total funding in CY2022 decreased by 24% over 2021. Additionally, the year saw a substantial investment focus on niche firms and non-unicorns.
In 2022, about 1,400 different businesses got investment, an increase of 18% over 2021. According to the research, 47% of these firms raised their first round in 2022.
Early Investment Process
Early-stage investments increased by 25–35% over 2021 ($5.9 billion in CY2022) and seed-stage investments ($1.2 billion). 1 018 investments were made in seed-stage IT startups in 2022. Due to the significant correction in the global public markets, late-stage investments took the worst hit, with a loss of 41% in deal sizes higher than $100 million.
“The ecosystem’s maturity, where creators purposefully prioritise profitability over valuation and investor faith despite the influence of macroeconomic factors, is extraordinary. This will open up growth opportunities through 2023 and beyond “said Zinnov CEO Pari Natarajan.
Final Few Words
According to the report, deep tech adoption and innovation are projected to increase among tech companies, particularly in SDG-related fields that call for sophisticated solutions.