Indian startups raised a record $24.1 billion in 2021, a two-fold increase over pre-Covid levels, with $6 billion raised through public markets through 11 startup IPOs, according to a new Nasscom report released on Friday,
The Indian tech startup ecosystem is expanding steadily, with over 2250 new startups expected in 2021, 600 more than in 2020.
India, which has 70 unicorns, added a record number of new unicorns (42) in 2021 across 18 sectors, ranking third after the United States and China, with a total valuation of newly-added unicorns of around $90 billion.
“In comparison to 2020, there was a 3X increase in the number of high-value deals (deals over $100 million), demonstrating investor confidence,” according to the Nasscom-Zinnov report.
While the US remains the leading source of foreign direct investment in start-ups, worldwide involvement is also growing in India and 50 per cent of the deals had at least one India-domiciled investor, the report noted.
“With record-breaking funding, an increase in the number of unicorns, jobs being created in the near term, the Indian startup ecosystem’s future looks even brighter going ahead in 2022,” said Debjani Ghosh, President, Nasscom.
From 2020 to 2021, the start-up ecosystem saw a 2X increase in cumulative valuation, with an estimated $320-$330 billion, demonstrating the sector’s development and recovery throughout the pandemic.
According to the report, the ecosystem has played a key role in increasing direct and indirect job opportunities over the last decade, providing 6.6 lakh direct jobs and more than 34.1 lakh indirect jobs.
Get to know the pulses of the Indian startup ecosystem in reality by attending “INDIA FIRST TECH STARTUP CONCLAVE & AWARDS’22-Delhi Chapter” organized by the All India Council for robotics and automation, supported by the Ministry of electronics and information technology.
The event is scheduled to be held on the 17th and 18th of February 2022, marking the biggest tech startup event this year. The event brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, government department’s representatives, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners.
The Platform helps startups to ramp up their innovative ideas and show off their services and products to attract investors. The experts of the industry will address and discuss all the innovations happening around the startup environment that youth empowerment and new-age tech business ideas can grow.
Click to know more about India’s biggest tech startup event:https://www.aicra.org/events/delhi/index.php
