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Indian startups raise $12 bn in 2022's Q1: Report

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New Delhi, April 1 (IANS) Domestic startups have raised over $12 billion during the first three months of 2022 as compared to $4 billion during the same period in the previous year, says a report.

According to data tracking platform Fintrackr, 528 startups, including 324 in their early stage and 123 in their growth stage, have announced their funding rounds worth $12.06 billion during the first quarter of this year.

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In December, data provided by a leading startups publication said that India had 82 unicorns with a total funding of over $38.4 billion (from 2014 till December 4, 2021).

India emerged as the third largest startup ecosystem in the world this year, after the US and China, as per Hurun Research Institute.

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In the third quarter (Q3) last year, Indian startups received record fundings, with investment totalling $10.9 billion across 347 deals, a PwC India report said.

Meanwhile, a recent report said that accelerated funding activity is expected to create over 100 unicorns in India during 2022.

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Over the past five years, the number of software-as-a-service (SaaS) firms have doubled in India and SaaS firms in the country are poised to reach $30 billion in revenue by 2025.

–IANS

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CELEBRITY GALLERY

Himanshi Khurana

Pooja Hegde

Pragya Jaiswal

Kajal Aggarwal

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