Amid the funding winter, 128 Indian startups have managed to raise $995.1 million in August 2022, which is a 9.7% growth compared to the previous month, reveals GlobalData, a leading data and analytics company.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although the total VC funding amount still remains below $1 billion akin to July, August managed to reverse the decline in fundraising, despite a 2.3% fall in deal volume. Moreover, the growth has come at a time when fundraising in other key global markets such as the US and UK witnessed decline. China and India were the two notable exceptions to this trend.”
An analysis of Globaldata’s Financial Deals Database revealed that India saw the announcement of 1,239 VC funding deals during January to August 2022, while the corresponding disclosed funding value stood at $17.7bn.
Bose concludes: “Despite the economic volatility, Indian startups fractionally managed to gain investors’ confidence. As the cyclical phenomenon of the funding winter suggests, India witnessed a slight month-on-month improvement in VC fundraising in August.”
