Startup Funding Crosses $10 billion in Q1

As per the PwC report, the Indian startups for the third consecutive quarter have received more than $10 billion in funding. Also, 14 Indian startups have turned into Unicorns in the first quarter of this year. With this, the total number of Unicorns has reached 88 in the country. Startups received this $ 10 billion dollar of funding in 334 funding deals. Software-as-a-service (SaaS) companies emerged as the leader in these fundings.

SaaS companies secured funding worth more than USD 3.5 billion. Also out of the 14 Unicorns, most of them were from the SaaS sector. Five SaaS startups turned into Unicorns in this quarter. Amit Nawka informed that despite uncertainties, Indian startups continue to raise capital specifically in the growth capital stage. Last year, 15 SaaS startups turned into unicorns in India.

Some of these were Darwinbox, Fractal, Uniphore, Hasura, and Amagi Media Labs. Mr. Nawka further informed that more mature SaaS players are seriously considering public listing in near future. The first quarter of this year also witnessed around 80 Merger & Acquisitions deals in the start-up ecosystem.