Home Finance News Bengaluru-based tech cos elevate file $7.5 bn in 2022

Bengaluru-based tech cos elevate file $7.5 bn in 2022

Bengaluru: Bengaluru-based tech corporations raised file ranges within the first three quarters of this 12 months with $7.5 billion in VC funding — up from $5.2 billion in 2021, a report confirmed on Wednesday.

Bengaluru and London function among the many high 10 cities globally for many quantity of VC funding during the last 5 years, in accordance with the report from London & Companions in partnership with Dealroom.

The 2 main funding rounds for Bengaluru-based corporations this 12 months embrace Swiggy’s $700 million spherical in January and $55.7 million Collection-D for Ather Power. In truth, Bengaluru is now attracting extra investments than different world hubs comparable to Singapore, Paris and Berlin, the report talked about.

“In the previous few years, London and Bengaluru have created an growing variety of thrilling immersive tech corporations. This analysis proves that these cities aren’t solely the highest hubs of their areas for immersive corporations however are additionally aggressive on the worldwide stage,” stated Hemin Bharucha, Nation Director at London & Companions. For the Indian corporations that wish to develop their operation in Europe, “London’s strengths within the inventive industries and gaming present the experience and expertise wanted to scale efficiently”, Bharucha added.

Bengaluru and London are additionally two of the world’s main hubs for VC funding into immersive tech startups, the place Bengaluru ranked fourth on the earth with $510 million raised in 2022, adopted by London at fifth place.

In Europe, London is the main hub for VC funding into immersive tech start-ups. The report highlights Europe because the quickest rising areas for immersive tech innovation, with startups having raised a file $1.4 billion in 2022 so far. Fuelled by the expansion of AR, VR and Metaverse applied sciences, the report confirmed that immersive tech funding is bucking the development for world start-up funding in 2022.

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