Nasscom Report: Indian startups raised record USD 24.1-bn in 2021

NEW DELHI: According to a new Nasscom study released on Friday, Indian startups raised a record USD 24.1 billion in 2021, a two-fold increase over pre-Covid levels, and USD 6 billion was financed via public markets with 11 company IPOs.

The Indian digital startup ecosystem continues to expand, with over 2250 startups added 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, placing it third after the United States and China, with a total valuation of around USD 90 billion.

According to the Nasscom-Zinnov report, "there was a 3X rise in the number of high-value deals (deals over USD 100 million) in comparison to 2020, reflecting investor confidence."While the United States continues to be the biggest source of foreign direct investment in start-ups, global participation is increasing in India, with at least one India-domiciled investor in 50% of the deals, according to the research.

"With record-breaking funding, an increase in the number of unicorns, and employment on the horizon, the Indian startup ecosystem's future looks even brighter in 2022," stated Debjani Ghosh, President of Nasscom.

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