Synopsis India added over 1,300 active tech startups last year, taking the total tally of active tech startups to 25,000-27,000, a Nasscom report said on Wednesday. ETtech India added over 1,300 active tech startups last year, taking the total tally of active tech startups to 25,000-27,000, a Nasscom report said on Wednesday. India continues to be the third largest tech startup ecosystem globally (after the US and China). The country also added the second highest number of unicorns in the world, with over 23 added in the CY2022. Simultaneously, the potential pipeline of unicorns expanded to over 170, growing at a pace equivalent to 2021, according to the report by the National Association of Software and Services Companies (Nasscom), in collaboration with Zinnov . "Despite the current downturns, opportunities abound for innovative companies that are leveraging emerging technologies to create actionable impact while prioritising business fundamentals over growth," said Debjani Ghosh , President, Nasscom. Despite the headwinds, while total funding in CY2022 dropped 24 per cent over 2021, the annual investments at $18. 2 billion were higher than the pre-pandemic levels of $13. 1 billion in 2019. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The year also witnessed a significant investment focus on non-unicorns and unique startups. Almost 1,400 unique startups received funding in 2022, 18 per cent higher than in 2021. Among these, 47 per cent of startups raised their first round in 2022, the report mentioned. Both early-stage ($5. 9 billion in CY2022) and seed-stage ($1. 2 billion) investments grew between 25-35 per cent over 2021. In 2022, tech startups in the seed-stage secured 1,018 investments. Late-stage investments bore the brunt with a decline of 41 per cent in deal sizes greater than $100 million, due to considerable correction in the global public markets. "What is remarkable is the ecosystem's maturity, where founders are intentionally prioritising profitability over valuation and the investor trust, despite macroeconomic variables at play. This will pave the way for growth in 2023 and beyond," said Pari Natarajan, CEO, Zinnov. Tech startups are expected to continue increasing innovation and deep-tech adoption, particularly in areas related to SDGs (Sustainable Development Goals) that require complex solutions, the report said. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Wednesday, 15 Feb, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Economy More Aditya Birla Group in Talks with Global Banks for Vi Equity Infusion Aditya Birla Group has initiated an exercise to raise funds at the promoter level for an equity infusion into Vodafone Idea (Vi) Ltd and is in discussions with global banks for raising term debt to subscribe to a preferential allotment of shares. TVS EV Co may Get $350m from ADIA, Goldman, Carlyle Abu Dhabi Investment Authority (ADIA), Goldman Sachs and Carlyle are in active discussions with TVS Motor Co to invest $300-350 million in its electric vehicle (EV) arm at a potential $3-3. 5 billion valuation, said people with knowledge of the matter. Adani Looks to Repay $500 m Bridge Loan The Adani Group is in talks with lenders to repay the $500 million bridge loan facility it had availed of to purchase a controlling stake in Holcim’s cement units last year, said two people with knowledge of the matter. Read More News on india tech startups zinnov startups Nasscom debjani ghosh tech startups Nasscom report Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. . . . more less ETPrime stories of the day Real Estate Interest rates are rising, so are rental yields. Is it the right time to invest in property? 8 mins read 3 insights to kick-start your day, featuring Swiggy’s “poor judgement” 3 mins read Strategy Stock Radar: Technical charts suggest HDFC Bank is likely to hit fresh record highs in next 3-6 months; time to buy? 3 mins read Subscribe to ETPrime.