At a time when the global markets are struggling with the COVID-19 pandemic, Indian startup ecosystem is turning crisis into an opportunity. The country has witnessed the announcement of 153 venture capital (VC) funding deals during January 2022 with a disclosed funding value of $3.2bn, reveals GlobalData, a leading data and analytics company.

This is the second highest VC funding amount raised by startups in any country across the Asia-Pacific (APAC) region during January 2022.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “India is the second big APAC market for VC investors after China and is also among the top five markets globally. India accounted for 8.2% of the total number of VC funding deals announced globally during January 2022 and held 6.3% share of the corresponding deal value.”

India witnessed the announcement of seven deals valued more than or equal to $100m during January 2022. Some of the notable VC funding deals announced include $700m raised by Bundl Technologies (Swiggy), $250m raised by Mogli Labs (Moglix, Moglilabs), $240m raised by Dunzo Digital, $165m raised by DealShare, and $100m funding raised by Lead School.

Bose concludes: “So far in 2022, India has already witnessed the birth of eight unicorns.  Rising smartphone penetration and affordable mobile Internet have transformed India into a digital-first economy. E-commerce, fintech, and edtech will continue to attract VC investors’ attention. As a result, the long-term prospects for the Indian startup-VC market looks stable and promising.”