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PE-VC investments in cybersecurity firms plunged to 6-year low in 2020
January 27, 2021
‘Investors focused on companies with ability to break even’
The country went on a nationwide lockdown last year and many companies shifted to work-from-home practices. But this scenario made it easier for cyber criminals to attack networks with targeted malware and resulted in an increase in cyber-attacks across India, forcing organisations to strengthen their security frameworks.
However, contrary to expectations, private equity and venture capital investments in cybersecurity companies last year in India were the lowest in the last six years. As per data from Venture Intelligence, a firm that tracks private companies’ investments, financials, and valuations, PE-VC investments in the segment in India was only $14 million in 2020. While seven companies were funded last year as against six in 2019, the funding amount fell nearly 92 per cent from 2019’s figures.