Indian tech startups raised a record $14.5B in 2019
1Reported today on TechCrunch
For the full article visit: https://techcrunch.com/2019/12/29/indian-tech-startups-funding-amount-2019/
Indian tech startups raised a record $14.5B in 2019
Indian tech startups have never had it so good.
Local tech startups in the nation raised $14.5 billion in 2019, beating their previous best of $10.6 billion last year, according to research firm Tracxn .
Tech startups in India this year participated in 1,185 financing rounds - 459 of those were Series A or later rounds - from 817 investors.
Early stage startups - those participating in angel or pre-Series A financing round - raised $6.9 billion this year, easily surpassing last year's $3.3 billion figure, according to a report by venture debt firm InnoVen Capital.
According to InnoVen's report, early stage startups that have typically struggled to attract investors saw a 22% year-over-year increase in the number of financing deals they took part in this year. Cumulatively, at $2.6 million, their valuation also increased by 15% from last year.
Overall, there were 81 financing deals of size between $25 million and $100 million, up from 56 last year and 36 the year before, and 27 rounds above $100 million, up from 17 in 2018 and and 9 in 2017, Tracxn told TechCrunch.
Also in 2019, 128 startups in India got acquired, four got publicly listed, and nine became unicorns. This year, Indian tech startups also attracted a record number of international investors, according to Tracxn.
This year's fundraise further moves the nation's burgeoning startup space on a path of steady growth.
Since 2016, when tech startups accumulated just $4.3 billion - down from $7.9 billion the year before - flow of capital has increased significantly in the ecosystem. In 2017, Indian startups raised $10.4 billion, per Tracxn.
"The decade has seen an impressive 25x growth from a tiny $550 million in 2010 to $14.5