India SaaS Report 2022 – Punching Through The Global Pecking Order

Praveen Bhadada, Managing Partner, Zinnov; Vaibhav Gupta, Principal, Zinnov; Vikram Godbole, Engagement Manager, Zinnov; Sudhir Sethi, Founder & Chairman; Chiratae Ventures, Venkatesh Peddi, Managing Director, Chiratae Ventures; Tarang Mittal, Investment Associate, Chiratae Ventures

We are in the midst of a ‘coming-of-age’ moment for Indian SaaS – which is showing no signs of slowing-down. Hardly 4 months into 2022, India has already produced nearly the same number of SaaS unicorns as it had in the whole of 2021 – which only goes to prove that the Indian SaaS ecosystem has matured significantly and holds the potential to emerge as a global leader in the next few years.

Here are the core insights from the report

Our 2021 predictions played out in 2022. This year has already been a landmark one for Indian SaaS, where the industry witnessed 50% growth in revenue and 3X growth in venture capital funding.

This has not only accelerated the creation of SaaS unicorns at a furious pace, but also set India on the path to surpass China to become the second largest SaaS nation in the world by 2026.

And 5 keys factors lighting the SPARK to propel India SaaS onto the global stage include – Supportive start-up policies, Proven global caliber, Abundant liquidity, Rearing domestic skilled talent, and Kindled exit options for investors.

The Role of VCs in turbocharging Indian SaaS is immense. Investments in Indian SaaS grew 3X to over USD 4 Bn in 2021 and is expected to top USD 6.5 Bn this year.

~40% of the VC deals in 2021 were late-growth stage, indicating the maturity of the Indian SaaS ecosystem

So, what is next?

Categories such as Sales & Marketing, Retail & e-Com, Healthcare, HCM, and Infrastructure were high on the VC radar

Key SaaS categories such as Cloud-Native enablers, HIA, Cloud Security, Web3, and Verticalized solutions are expected to continue gaining traction in 2022 and beyond.

What are the key themes that will dominate the ecosystem in 2022, and how to succeed in the global SaaS playing field?

Download our latest report to get quantified insights, trends, and a playbook on what it needed for entrepreneurs and investors alike to maximize value in this trillion-dollar opportunity.

Download this latest India SaaS Landscape Report – 2022 here.
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India SaaS – Punching Through The Global Pecking Order

Read our 2021 report
Indian SaaS Revolution –
Rising Trillion Dollar Global Opportunity

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