Ritik Gupta
Indian startups are estimated to have earned USD 10.14 billion in funding across more than 1,200 deals in 2020 despite the COVID hardship, a report by HexGn said.
Even though the total investment obtained in 2020 is lower than that of 2019 (USD 14.5 billion), the number of deals were higher by 20 per cent, the report said.
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“Weathering negative sentiment, seed stage investment deals grew by 50 per cent from USD 353 million over 420 deals in 2019 to USD 372 million over 672 deals in 2020. This is a good sign for people looking to plunge into startups, as early-stage investors are now keen to back risk-takers early on,” the report noted.
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This can be associated with Invest India, Startup India, AgNii and other agencies of the Indian government to strengthen investor confidence and entrepreneurial civilisation, it added. This is the third year in a row that India has maintained its number four position globally after the US, China and the UK.
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Globally, startups raised over USD 308 billion in funding, with the US garnering USD 165 billion.
The report said Bengaluru, Delhi NCR and Mumbai accounted for 90 per cent of the startup investments in the country, gesturing engagement of angel investors and appetite in these provinces.
Bengaluru led with USD 4.3 billion in startup investments, followed by Delhi NCR (USD 3 billion) and Mumbai (USD 2 billion).
In terms of sectors, e-commerce captivated the highest investment with USD 3 billion, followed by fintech at USD 2.37 billion and edtech at USD 1.52 billion.
The biggest gainer has been the edtech component accumulated four times this year from USD 380 million in 2019. Nevertheless, sectors like transportation and logistics, and travel and tourism maintained more than 90 per cent drop in investments in 2020 as compared to 2019, it added.
Startups that fascinated maximum funding in 2020 include Zomato (USD 1.02 billion), Byju’s (USD 922 million), Phonepe (USD 807 million), Unacademy (USD 260 million) and Ecom Express (USD 250 million), as per the HexGn report.
These numbers do not encompass funds lifted by Jio Platforms (Rs 1.52 lakh crore) in 2020. The report remarked that these numbers are early direction and there could be alterations as more companies make declarations on funds earned.
