India Created 3+ Tech Startups/Day In Last 12 Months: World's 3rd Biggest Tech Startup Ecosystem With 27,000 Active Startups


Rohit Kulkarni

Rohit Kulkarni

Feb 23, 2023


After the US and China, India continues to have the third largest tech start up ecosystem worldwide. With over 23 added in CY2022, the nation also added the second highest number of unicorns in the world. According to a report by the National Association of Software and Services Companies (Nasscom), in partnership with Zinnov, the potential pipeline of unicorns increased simultaneously to over 170 and was growing at a rate comparable to 2021.

India Created 3+ Tech Startups/Day In Last 12 Months: World's 3rd Biggest Tech Startup Ecosystem With 27,000 Startups

1,400 unique startups received funding in 2022:

Debjani Ghosh, President, Nasscom said,”Despite the current downturns, opportunities abound for innovative companies that are leveraging emerging technologies to create actionable impact while prioritising business fundamentals overgrowth.” 

Despite the challenges, annual investments at $18.2 billion were higher than the pre-pandemic levels of $13.1 billion in 2019 even though total funding in CY2022 decreased 24% over 2021.

The year also saw a significant increase in investment focus on niche startups and non-unicorns.

Funding for startups went to nearly 1,400 different companies in 2022, up 18% from 2021. In 2022, 47% of these startups raised their first round of funding, according to the report.

Investments in seed-stage companies ($1.2 billion in CY2022) and early-stage companies ($5.9 billion in CY2022) increased by 25 to 35 percent over 2021.

Tech startups in the seed stage received 1,018 investments in 2022.

The significant correction in the global public markets had the biggest impact on late-stage investments, which saw a decline of 41% in deal sizes greater than $100 million.

Expected increasing innovation areas related to SDGs:

Pari Natarajan, CEO, Zinnov said,”What is remarkable is the ecosystem’s maturity, where founders are intentionally prioritising profitability over valuation and the investor trust, despite macroeconomic variables at play. This will pave the way for growth in 2023 and beyond.” 

According to the report, tech startups are expected to keep advancing innovation and deep-tech adoption, particularly in areas related to the SDGs (Sustainable Development Goals) that call for sophisticated solutions.


Rohit Kulkarni
Rohit Kulkarni
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