Bengaluru topped the startup funding chart in India with $10.8 billion in 2022, followed by Mumbai at $3.9 billion, and Gurugram at a distant $2.6 billion.
Startups based in Delhi and Chennai registered $1.2 billion each in funding, followed by Pune at $1 billion, according to data provided by Tracxn, a leading global market intelligence platform.
In 2021, Bengaluru-based startups had raised $20.8 billion in funding and Mumbai-based startups had pocketed $5.2 billion in the same year, showing the impact of the deepening funding winter last year.
There were 22 unicorns in 2022, compared to 46 in 2021, and average funding before the unicorn round was around $160 million.
It is now taking an average of 5.1 years from Series A funding to the Unicorn round for the Indian startups.