Algo rhythm: Investors take a shine to India's tech startup, says report

 

India’s startup growth story racked up impressive numbers in the second quarter of 2021 (April-June). Apart from being the most funded quarter, it also saw the addition of the most number of unicorns. This report has been developed by Nasscom and PGA Labs to understand India’s tech startup landscape.

Unicorn ecosystem

  • Total unicorns as of June 2021 – 53; 15 added in H1 and 11 Q2, 2021
  • Tiger Global invested in 64% of the unicorns in Q2 2021
  • CRED turned unicorn within just 29 months of its inception
  • 6 unicorns have filed for IPOs, of which Zomato got listed
  • More than 50% of funding was concentrated on 3 sectors: FinTech, FoodTech and Enterprise Tech

Growth-stage funding for B2C tech startups drives deal flows

  • Deal split: B2C – 71%, B2B – 29%
  • Series D & E together account for 45% of deal value
  • B2B startups raised $1.9bn across 85 deals
  • B2C startups raised $4.2bn across 75 deals
  • Prominent investors: Elevation Capital, Sequoia Capital, 100x and Tiger Global

DeepTech deal flow

  • 19% of deal volume catered to startups leveraging DeepTech solutions, as did 7% of Q2 2021 funding in value
  • DeepTech startups raised $450mn across29 deals
  • Sequoia Capital and WestBridge: Top two investors investing in AI and ML
  • 22 deals across early stages in DeepTech startups

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