The Next Big Leap

14 | The Next Big Leap [ OVERVIEW OF START-UP ECOSYSTEM IN INDIA ] in value and volume as compared to 2021. Nonetheless, early-stage funding continued to rise in terms of value despite a slight decline in volume terms, indicating persisting investors’ confidence in India’s growth potential. In value terms, almost 61% of investment was raised at the growth stage, while in volume terms, the majority 62% of deals took place at the early stage. Start-up funding value in US$ bn Start-up funding deals Figures in bold are total for all stages Source: India Start-up Deals Tracker CY22, PWC Citywise distribution of funding in start-ups (US$ mn) Source: India Start-up Deals Tracker CY22, PWC Amongst cities, Bengaluru received the most start-up funding, accounting for 48% in value terms and 38% in volume terms of the total in 2022. Bengaluru, NCR, and Mumbai witnessed decline in funding value and volume in 2022, and a decline in funding value was very sharp (47%) for Mumbai. On the other hand, Pune, Chennai, and Hyderabad witnessed an increase in funding value in 2022. Dun & Bradstreet