According to a research by PwC India, startup funding fell to a two-year low of $2.7 billion across 205 deals in the July-September quarter.
In addition, only two Indian firms achieved unicorn status in the same quarter. This is consistent with a global trend that witnessed a decrease in the quantity of new unicorns in the previous quarter.
According to the research, 38 merger and acquisition (M&A) agreements involving startups were completed in the 2022 third quarter. There were 30 domestic deals, five inbound deals, and three export deals.
With nine and seven agreements, respectively, SaaS and edtech had the biggest number of M&A deals in the third quarter of CY22. Wolves India, Harappa Education, Exampur, and Centum Learning were the four acquisitions made by edtech business upGrad during the quarter, making it the top acquirer.
