India Deal Review: Q3 2022
Hit by global macroeconomic headwinds, Indian startups could raise only a little over $3 billion in the quarter ended September, down almost 58% sequentially. On a year-on-year basis, the fall was even more stark — deal value in the quarter under review was down 83% from Q3 2021, while deal count was down 34%.
According to the latest report by DealStreetAsia DATA VANTAGE, growth stage funding in India is in severe distress. Consider this: the volume of megadeals, or deals worth at least $100 million, fell to five in Q3, compared with 21 in the previous quarter and 43 in the year-ago quarter.
The fall in the number of megadeals is a sign that investors are writing smaller cheques in the early stages, at the expense of late-stage deals.
With only one quarter left in the year, startup fundraising is short of 2021’s total ($46 billion) by around $23 billion. Deal volume, however, has held up. Consequently, 2022 is likely to go down as a paradoxical year, when fundraising fell despite more deals being sealed by India’s startups.
Get the India Deal Review: Q3 2022 report for data and insights on:
- Top deals of Q3 2022 and 9M 2022
- Top sectors in terms of fundraising
- Most active investors
- Insights from prominent investors
- List of unicorns minted in 2022 so far.
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