Funding frontiers: Decoding the startup landscape beyond Tier-1 India

Reams have been written about the potential of startups emerging from beyond India’s large metros. But is this potential actually being realised? The numbers don’t quite bear this out.

The CapTable dug through data provided by startup intelligence platform Tracxn to figure out how this trend has played out in recent years. The total dataset encompasses 17 tier-1 cities or regions (for instance, the National Capital Region and Mumbai Metropolitan Region have been considered as tier-1), 102 tier-2 cities, and 721 tier-3 towns.

While there are few surprises to be had, there are nuances that emerge which could be the early sketches of what will emerge as the Indian startup painting next decade or so.