Indian SaaS Startups are forecasted to raise $6.5 billion in 2022

There is no doubt that the Indian software-as-a-service (SaaS) sector has been witnessing the best record growth in the past two years. Recently, several SaaS startups like PostMan, MindTickle, Browserstack, and many others have turned into Unicorns. A unicorn is a company valued at over a billion dollars. Additionally, last year Girish Mathrubootham-led Freshworks also made an exceptional debut on Nasdaq. The same growth trajectory is expected to continue this year as well.

Recently, a report by investment firm Chiratae Ventures and management consultancy firm Zinnov stated that Indian SaaS startups are expected to raise $6.5 billion in the year 2022. This indicates a rise of 55% from the $4.2 billion that such companies raised in the previous year. The report, titled ‘India SaaS: Punching through the global pecking order’, also stated that 1,150 Indian SaaS companies generated a revenue of $8 billion in the year 2021. The report also informs that Indian SaaS startups are likely to clock $100 billion in revenue by 2026. The report noted, “Post surpassing the UK this year in the number of SaaS unicorns, India is all set to leapfrog China and become the second-largest SaaS nation by 2026.”