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Venture capital funding into Indian startups was in double-digit figures for the second week of June, but the ecosystem witnessed increased M&A activity.
[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.