In the midst of mass layoffs and consolidations in H1 2022, Indian startups thrive, raising $20 bn

By Ritvik Vanukuru

According to the data tracking platform Fintrackr, by the end of the first half of 2022, 944 startups had raised a total of $19.86 billion. The value includes a total of $12 billion from the Q1 results and $7.8 billion from the Q2, a reflection of a 34% Quarter on Quarter funding decline.

Verse Innovation, Byju's, Swiggy, Polygon, Uniphore, and Fractal were the top fundraisers in the H1 of 2022. These startups collectively raised $3 billion in funding.

The second period of 2021 proved to be a low-funding period that saw the rise of mass layoffs, consolidations, and shutdowns. These projected a bleak picture for H1 2022, but as it was in H1 2021, the industry's startup industry flourished.