128 Indian startups secured around Rs 8,000 crore in venture capital funding during August 2022. The country saw the announcement of 1,239 VC funding deals during the first eight months of this year.
According to Global Data, a total of 128 startups India secured more than $995 million (around Rs 8,000 crore) in August 2022 as venture capital funding, amid the funding winter.
The funds secured last month were up by 9.7% from July 2022, the data and analytics company stated.
According to Aurojyoti Bose, Lead Analyst at GlobalData, “Although overall VC financing remained below USD 1 billion compared to July, August managed to reverse the dip in fundraising, despite a 2.3 percent drop in transaction volume.”
The expansion has occurred at a time when fundraising in other significant worldwide markets, such as the United States and the United Kingdom, has declined.
Bose noted, “The two countries that were significant exceptions to this pattern were China and India.”
An examination of GlobalData’s Financial Agreements Database indicated that during January to August 2022, India saw the announcement of 1,239 VC investment deals, with the declared funding amount standing at USD 17.7 billion.
Despite the economic uncertainty, entrepreneurs in India have managed to acquire investors’ trust, according to Bose.
Bose added that the country experienced a minor month-on-month uptick in VC fundraising in August 2022, as evidenced by the cyclical phenomenon of financing winter.