April 20, 2024
1 min read

India’s Enviro-Tech Raises $7.3B

India’s share in global funding was 7 per cent in 2022, the highest since 2011….reports Asian Lite News

The environment-tech sector in India has raised $7.3 billion in total funding to date, a report showed on Friday.

The country’s environmental technology funding saw substantial growth between 2018 and 2022, surging from $0.23 billion to $2.47 billion, as per data by Tracxn, a leading market intelligence platform.

India’s share in global funding was 7 per cent in 2022, the highest since 2011.

Environment tech funding in the country peaked in 2022 at $2.47 billion. However, it experienced a decline to $1.68 billion in 2023, a 32 per cent decrease from 2022.

As of the first three months of 2024, the funding stands at $0.24 billion.

Despite the global increase in funding, India’s share remained consistently low, ranging from 0 per cent to 7 per cent. Bengaluru ($2.7 billion) tops the list in this space in terms of all-time city-wise funding, followed by Delhi ($1.2 billion) and Mumbai ($942 million).

“This space has seen 14 initial public offerings (IPOs) and 25 acquisitions to date. Only five companies reported more than $100 million rounds in 2023,” the findings showed.

One unicorn has also emerged in India in this space — Ola Electric.

ALSO READ: realme Set to Shake up Market

Previous Story

How Adani Ports Unlocked India’s Seaport Growth

Next Story

Congress Loses Tajinder Singh Bittu to BJP

Latest from Business

Six OMCs Pump ₹290 Cr into Startups

The Union Minister said the country continues to stand as the world’s third-largest startup ecosystem….reports Asian Lite News Six oil marketing companies (OMC) in India have invested Rs 290 crore from their
Go toTop

Don't Miss

Map Row: China Urges India to Keep Its Cool

India protested after Beijing released the map showing Arunachal Pradesh

PLI Sparks Job Growth in India

The PLI Scheme has led to major smartphone companies shifting