Indian startups raised a total disclosed funding of $8.45 billion from 765 deals between January 2020 Indian startups raised a total di...
Indian startups raised a total disclosed funding of $8.45 billion from 765 deals between January 2020
Indian startups raised a total disclosed funding of $8.45 billion from 765 deals between January 2020 and mid-November 2020, marking a 30% decline since 2019, as per YourStory. Edtech platform BYJU'S topped the list with $1.02 billion funding, followed by hospitality startup OYO and Goldman Sachs-backed ReNew Power which bagged $807 million and $450 million respectively.
Indian startups raised a total disclosed funding of $8.4 billion between January 2020 and mid-November 2020. This was a 30 percent decline as compared to the funding raised by startups in 2019 and is almost equivalent to the funding amount raised in 2015.
In terms of the number of deals, Indian startups registered a total of 765 deals in the period between January 2020 and November 15, 2020. This is a 14.5 percent decline as compared to the previous year.
COVID-19 impact and reset: Funding trends
As the graph below depicts, the first quarter (Jan-March) showed signs of fluctuations, with unicorns like BYJU’S, ReNew Power, OYO Rooms, Swiggy, and Zomato holding the funding mast from dropping.
However, with the lockdown taking hold in the second quarter, the funding amount fell drastically. At around the onset of the third quarter, as the business and economy started to recover, we saw a sudden surge in the funding amount raised by startups in the month of September, scoring $1.9 billion in funding — up from $276 million in August. This can be attributed to the aggressive growth seen in sectors such as edtech, foodtech, OTT, and online gaming among others.
Although the last quarter is again experiencing a great fall in the funding amount raised by startups, this can be attributed to the uncertainty regarding where the customer aspirations lie in the future. Also, with the country again witnessing an increase in the number of COVID-19 cases with the onset of winter, many states are considering reverting to either partial lockdown or curfews.
COVID-19 impact and reset:
Sector trends
Overall, the top sectors which clinched the maximum number of funding deals between the period of January to November 2020 are fintech and financial services (123), eCommerce/retail (99), edtech (84), health tech (80), and enterprise software (42). Together, these sectors constitute around 56 percent of the total deals raised by the ecosystem.
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