Nassome says more than 450 start-ups have raised $1.3 billion in funding as of April
Nassome says more than 450 start-ups have raised $1.3 billion in funding as of April
Nasscom on Wednesday said India has a rapidly growing Web3 ecosystem, with over 450 active start-ups that have raised $1.3 billion in funding as of April.
While the global response to Web3 was still taking shape, India’s growing economy, demographic dividend, and rapid adoption of emerging technologies in various sectors have enabled the country to become one of the highest growth markets for Web3 globally. For, according to a study released by, NASSCOM in association with Hashed Emergent.
Over the past two years, Indian web3 start-ups have grown into a community of over 450 with four unicorns. According to the study, between 2021-2022 alone, India recorded more than 170 new Web3 start-ups, providing a CAGR growth of over 50% from 2015.
In terms of distribution, more than 80% of these Web3 start-ups are in Tier I cities. However, the Tier II/III ecosystem is growing rapidly with places such as Jaipur, Vadodara, Ahmedabad, Kolkata, Thiruvananthapuram and Coimbatore emerging as emerging hubs for Web3 start-ups, according to the study. has been found in.
“With increasing trust and interest from global investors, investment in Indian Web 3 and Web 2.5 start-ups has also increased. In a statement, Nasscom said, the sector has seen strong funding across all phases.
NASSCOM said the study, titled “The India Web3 Start-up Landscape, An Emerging Technology Leadership Frontier”, was aimed at promoting a broader understanding of the diverse possibilities with Web3 and the landscape of Web3 start-ups in the country.
Web3, a new iteration of the World Wide Web, has now become a hot topic of discussion involving concepts such as blockchain technology, metaverses, and non-fungible tokens (NFTs).