Hello Readers,
FY2022 was a record year for the Indian startup ecosystem, which saw an investment inflow of $38.3 billion across 1,633 deals.
While late-stage startups got the most chunk of the funding, early-stage deals accounted for 74.1 percent (1,210 deals) of the total deal count. Their value of nearly $4.41 billion was a nearly 40 percent growth as compared to the previous fiscal.
The last fiscal saw a healthy mix of venture capital funds and angels participating actively in early-stage deals.
The most number of angel investments came from CRED Founder Kunal Shah, who made 58 deals of the total of 814 Pre-Series A deals – accounting for 7.14 percent of the overall number of Pre-Series A deals.
Out of the total deals, Pre-Series A deals accounted for 49.85 percent of the number of deals, valuing over $1.1 billion (2.89 percent of the total value).
Read the complete analysis here.
Editor’s Pick: Women in Tech
Padmapriya R's love for science began while she was in school. The growing availability of computers and the internet piqued her interest in electronic devices, and circuits (EDC) and microprocessors.
Now Director, Information Technology, Issuer and Output Solution Group, Fiserv, Padmapriya R believes the right mentors and an ecosystem of support are important for women to overcome challenges. Read more.
Startup Spotlight
While India has sufficient industrial capacity to manufacture electronics, most motor controllers are manufactured outside India in countries such as China and Vietnam.
Founded in 2019, Virtual Forest taps the increase in demand for energy-efficient appliances by providing Made-in-India motor controllers and human interface electronics. Read more.
Veterinary services at a click
Coming from a family of veterinary doctors, Anirban Chanda saw the need for access to veterinary intervention at any point in the day or night.
Looking at this gap as an opportunity, Anirban started Onpets, a digital platform for pet owners through which they could book online or on-ground consultations with veterinarians. Read more.
Credit: YourStory Design
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