India has emerged as the third largest ecosystem for startups globally with over 116,679 recognized ventures across the country. However, startup funding in India has declined to a five-year low figure in 2023.
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The COVID-19 pandemic may have led to a negative impact on several sectors, including travel, hospitality, restaurants, and mobility, but there was a significantly positive effect on others such as
edtech, agritech, e-grocery, and fintech.
InMobi subsidiary Glance became the latest addition to the coveted $1 billion+ valuation club in December, along with DailyHunt s parent company VerSe Innovation, following investments of over $100 million by existing and new investors, including Google.
Some of the startups that touched unicorn status in 2020 were Pine Labs, Nykaa, First Cry, Razorpay, Postman, Zerodha, Unacademy, Cars24, Zenoti, and PhonePe. This year, Digit Insurance has already touched unicorn status.
India sees 60pc rise in fintech deals amidst COVID-19; surpasses China, says report
The Indian fintech market is expected to reach Rs 6,207 billion by 2025, expanding at a CAGR of about 22 percent during the 2020-2025 period.
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India has emerged as
Asia s biggest destination for financial technology (fintech) deals, leaving behind China in the quarter ended June 2020, a research report said.
With around
33 deals valued at $647.5 million, India has the highest investment in the fintech segment compared to
China s $284.9 million during the quarter ended June 30, 2020, a report released by
RBSA Advisors said.
Total investments in
India s fintech sector crossed the $10 billion mark over the last four and half years (the calendar year 2016 to H1 of 2020).
[Weekly funding roundup] Venture investments drop below $50M; Digit Insurance becomes 2021 s first unicorn
The total funding for the week stood at $45 million, much below the $612 million reported in the previous week. In fact, Digit Insurance became the first unicorn of 2021, valued at $1.9 billion.
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The total venture capital funding into Indian startups in the third week of January 2021 was below $50 million. However, it did not mask the flurry of developments during this week, largely centred around the unicorns.
The total funding for the week stood at $45 million, much below the $612 million reported in the previous week. In fact, the Indian startup ecosystem welcomed its first unicorn of the year Digit Insurance valued at $1.9 billion after its latest fundraise.