LONDON: Bengaluru held on to its record trend of attracting technology investments and other Indian cities such as Mumbai and Delhi and hubs such as Telangana and Kerala are also making a mark on the global startup ecosystems charts, according to new research released at London Tech Week 2022 on Tuesday.

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Indian cities rise up global startup ranks in research released at London Tech Week

PTI | Jun 14, 2022, 16:08 IST

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LONDON: Bengaluru held on to its record trend of attracting technology investments and other Indian cities such as Mumbai and Delhi and hubs such as Telangana and Kerala are also making a mark on the global startup ecosystems charts, according to new research released at London Tech Week 2022 on Tuesday.

Research from Dealroom.Co for London & Partners – London's business growth agency, showed that Bengaluru is the leading Asian city and fifth-ranked hub in the world for tech venture capital (VC) investment in 2022.

A separate ‘Global Startup Ecosystem' report from Startup Genome found that the Asian scenario in the sector once dominated by Beijing, Singapore, Hong Kong, and Korea is now being considerably disrupted by the likes of Bengaluru, Mumbai, and Delhi.

While Bengaluru ranked 22nd in the global startup ecosystem index due to major improvements in its market reach and access to funding, Delhi moved up an impressive 11 places coming in at No. 26, with Mumbai at No. 36.

“It's fantastic to see startup growth across the whole of India as this creates lots of opportunities for collaboration with London,” said Hemin Bharucha, Director of India for London and Partners.

“With our shared strengths in entrepreneurship, innovation and technology, we can expect to see UK and Indian tech companies doing business across both regions. London is already one of the top destinations for Indian tech companies looking to expand outside of their home market and we continue to see a strong pipeline of Indian tech companies that are looking to grow their business internationally by moving to London,” he said

.The investment research revealed that in the first five months of this year (January to May) Bengaluru's tech firms have raised USD 7.5 billion in VC funding, considerably higher than the previous record of USD 5.2 billion during the first six months of 2021.