NEW DELHI: More than $7 billion was raised by Indian start-ups during the fourth quarter of 2021, which was 18 per cent higher than the previous sequential quarter, according to a report.
The report by NASSCOM and Praxis Global revealed that fintech and retail tech were the top sector in Q4 CY21 (calendar year 2021) cornering almost 46 per cent of the total funding.
As many as 14 new unicorns were added in the Indian tech start-up ecosystem in Q4 2021.
"6 out of 14 Unicorns added in Q4 CY21 are from retail tech and fintech sector," according to the report.
A startup with a valuation of over $1 billion is called unicorn. According to the report funding continued to be strong and steady, and about $7.2 billion funding was received in this quarter. This was 18 per cent higher on a quarter-on-quarter basis.
India continued to see strong acceleration both in the volume and the multiplicity of the startups in CY21, it said. The fourth quarter remained strong for startup ecosystem with historic 14 startups added to the unicorns list.
"FinTech gained further traction and remained favourite among global investors community," it added.
