Indian startups raised $1.2 bn in Jan, PhonePe & KreditBee lead
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/02/9491e7104a2f98967dccc23e54b13695.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Indian startups raised about $1.2 billion in January amid rough macroeconomic conditions and funding winter.
According to data by Fintrackr, an arm of startup news portal Entrackr, growth-stage startups witnessed 22 deals worth $926 million in the first month of 2023.
Early-stage startups received $265 million across 67 deals while 12 startups did not disclose transaction details.
According to the report, the average deal size for early-stage startups was nearly $4 million.
PhonePe's $350 million and KreditBee's $120 million funding round accounted for nearly 40 per cent of the overall financing in January.
E-commerce (including D2C startups) segment saw more deals and fintech continued to dominate with $587 million in total funding.
Bengaluru was the leading city with 60 deals while Delhi-NCR saw 15 deals, the report mentioned.
The Indian startup ecosystem witnessed 18 mergers and acquisitions across segments in January.
In 2022, the funding for the Indian startups was nearly $24 billion, a drop of 33 per cent in comparison to CY21 but was still more than twice the funds raised in CY20 and CY19 each, according to a PwC India report.
Growth and late-stage funding deals accounted for 88 per cent of the funding activity in CY22 (in value terms).
Average ticket size in growth-stage deals was $43 million and in the late-stage deals was $94 million during CY22, said the PwC India report.
![](https://portfolio.investmentguruindia.com/uploads/news/insurance 123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Wipro.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/2b1715f7e03b51b0ac9c014eb224fc1f.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/gdp22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar retures 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Arvind Kapil, MD and CEO, Poonawalla Fincorp.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)