Digit Insurance became the first unicorn of 2021, after bringing up $18 Mn from current investors. Indian startups are computed to lift $13.7 Mn across 1,044 deals, as per Inc42 Plus assessments. About $286 Mn was capitalized across 27 Indian startups this week.
It has not been even three weeks of the year 2021, and we already have our first unicorn of the year — Digit Insurance. The Bengaluru-based insurtech startup brought up $18 Mn from current investors A91 Partners, Faering Capital, and TVS Capital at a valuation of $1.9 Bn. The company intends to utilize this capital to fulfil the solvency leeway mandate, pursuing 31.9% growth in the last nine months.
With $11.5 Bn raised in 2020, the Indian startup ecosystem reported a subtle decline of 10% compared to 2019.
Nevertheless, 2021 is assessed to enroll an aggregate funding amount of $13.7 Bn across 1,044 funding contracts, as per Inc42 Plus’s report.
In its entirety, the total grant put forward by Indian startups since 2014 would surge to $83.4 Bn, with a full deal record of 7,029.
This week, about $286 Mn was capitalized across 27 Indian startups, and two companies got purchased.Note: This funding report is based on startups that disclosed funding amounts.