Tracxn's Healthtech India Report 2023: Funding Into the Segment Plummets 55% In 2022Over 9,468 companies, 1,093 funded startups, 87 acquisitions, and 12 IPOs were taken into consideration while working on the report.
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On Wednesday, Tracxn, a Bengaluru-based market research platform, released Tracxn - HealthTech India Report, sharing trends and insights into the Indian Healthtech space.
The core findings of the report shared that total funding in the sector dropped by 55 per cent from USD 3.2 B in 2021 to USD 1.4 B in 2022. MediBuddy and HealthKart were the only players to have raised funding of USD 100+ in just two rounds, a drop from 10 rounds in 2021.
"While investor interest in the HealthTech sector skyrocketed in the pandemic period, the space started experiencing a declining trend in funding from Q4 of 2021. Due to the funding winter, current macroeconomic conditions, and rising interest rates, investors across the globe have become more cautious in spending their money. This trend has been observed in the HealthTech sector as well. Despite this downturn, higher digital adoption and favorable government policies are expected to increase the activity in this space. Advancement in technologies like AI, robotics, cloud computing, data analytics, and IoT are also expected to improve the Indian HealthTech sector," read the official release.
Over 9,468 companies, 1,093 funded startups, 87 acquisitions, and 12 IPOs were taken into consideration while working on the report. Bengaluru was the top city to house the highest number of companies with 1390, followed by Delhi and Mumbai with 1224 and 1036, respectively.
Tata 1mg was the only health tech company to become a unicorn at a valuation of USD 1.3 billion, whereas telemedicine service provider Lytus was the only player to have gone public in 2022. Sequoia Capital, Accel and Chiratae Ventures were recognised as the top investors in the Indian health-tech segment to date.
Out of the entire sector, Healthcare Booking Platforms, Healthcare IT and Fitness & Wellness Tech were the top segments with the highest funding.
Despite a drop from 2021 in total funding, 2022 was the second-highest funded year in the past decade after 2021.
