India startups raise US$6bn VC funding in first two months of 2022
India remains the second biggest market in the Asia-Pacific (APAC) region for venture capital (VC) investments after China with US$6bn disclosed funding value, reveals GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Financial Deals Database reveals that a total of 314 VC funding deals were announced in India during the period.
Some of the notable VC funding deals announced during January-February 2022 in India include US$700m funding raised by Bundl Technologies (Swiggy), US$450m funding raised by Polygon Technology, US$300m funding raised by Busybees Logistics Solutions (Xpressbees), US$300m funding raised by NTex Transportation Services (ElasticRun), US$250m funding raised by Moglix, and US$240m raised by Dunzo Digital.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Besides being the second biggest market in the region, India also is a key global market for VC investments and ranks among the top five countries.”
However, VC funding activity slowed down in terms of volume as well as value in the country during February compared to the previous month. VC funding deal value and volume in India declined by 22% and 24.6%, respectively.
Bose concludes: “The decline in deal activity in February can be attributed to the prevailing uncertainty and market volatility and is in line with the global trend wherein most of the key markets such as the US and China also experienced subdued activity. Nevertheless, promising startups in the country continue to be on VC investors’ radar and the announcement of several big-ticket VC funding deals also testifies this.”