Notable investors Sequoia Capital, Tiger Global, Alpha wave and
concluded more than 6 deals in different sectors,” he added.
Of Tiger Global’s total investment, 40% is in Fintech and 20% in enterprise technology. For Sequoia, enterprise technology accounted for about 25 percent of funding and financial technology (fintech) for 20 percent.
About 60% of Tiger Global and Sequoia’s investments were made in the growth stage of startups.
There were only four unicorns in the April-June quarter: neo-banking company Open, SaaS platform LeadSquared, startup PhysicsWallah, and online beauty retailer Purplle.
Open became the first non-banking unicorn after raising $50 million in Series D funding from the IIFL.
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LeadSquared has raised $153M in Series C funding from WestBridge Capital to become a unicorn, while PhysicsWallah has raised $100M in Series A funding from Westbridge and GSV Ventures. Purplle has raised $34 million in a Series E funding round from Paramark Ventures.
In the previous period from January to March, 16 new unicorns were created, and this number dropped to four in the reporting quarter due to a decrease in the inflow of funds into the Indian startup space, he added.
According to the report, investment in Indian tech startups fell by about 17% to US$6 billion in April-June 2022 due to a slowdown in macroeconomic activity.