Despite the drop in venture capital (VC) funding in India to $26 billion in 2022 from a record level of $29 billion in 2021, deal volume rose to 1,611 led by an expansion in seed to series B deals.
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Venture funding continued to see democratisation, with emerging hubs beyond Bengaluru, Mumbai and the National Capital Region receiving 18% of the funding and accounting for 9 of the 23 unicorns added last year, data from Bain & Company show.
