37188 luwgthytrn 1467713271 - Indian Tech Startups Said To Have Raised Record $11.3 Billion This Year
Start-up

Indian Tech Startups Said To Have Raised Record $11.3 Billion This Year

With just two months remaining to wrap up the year 2019, Indian tech startups have been reported to be having themselves a very good year as they broke record amounts in the capital that came in.

Indian Tech Startups Said To Have Raised Record $11.3 Billion This Year | capital, funding, funding round, india, mukesh ambani, startups, tech

India’s tech ecosystem are on the wheels of steel

The tech startups in India got a major rebound after they experienced some dark-times in 2016. In 2018, Indian tech startups were said to have raised a massive $10.5 billion. But this year they upped their game as they were reported to have raised a record $11.3 billion.

As we all know, the Indian tech ecosystem experienced a huge downfall in 2016 when they accumulated just $4.3 billion, down from $7.9 billion in 2015.

The startups which accumulated most of this capital are those offering direct consumer services like financial services. That was followed up by retail startups and then enterprise.

According to Dev Khare, a partner at VC fund Lightspeed Venture Partners, he said that investors are growing this appetite for equity in India’s startups, and this goes to show that the local ecosystem is maturing.

He went on to say that “Today, they are tackling a wide-range of categories and opportunities and building some solutions that have not been attempted in any other market.”

Although he did say that most of this investment is also due to the fact that telecom operator Reliance Jio just arrived in the country.

Jio is a three year old telecom operator company that is managed by Mukesh Ambani, India’s richest man. Jio was said to have made the cost of mobile data in India extremely cheap.

The cost was so low that tens of millions of Indians were able to go online overnight for the first time. Khare also said that the creation of a cash crunch by New Delhi in 2016, was part of what boosted their demand for content and services like mobile wallets.

According to an Indian news outlet The Morning Context, they said that out of the top 150 Indian startups that raised capital in the first quarter of 2019, 17.3% were led or co-led by women.(Nice, who run the world?)

If asked, personally I’ll say that India are having themselves a fantastic year. Before the year runs out we should still see some startups close new financing rounds.

[Total: 1    Average: 5/5]

Emmanuel
Hello there I'm a tech-inclined geek, and I've always been a huge fan when it comes to anything tech, so I decided to share my knowledge with the online community and also share some of the latest buzzing news in the tech biosphere. i am dedicated to providing you guys with the best news updates. email: [email protected]
http://www.techcopp.com

Don't forget to leave a Reply