24 Nov, 2021 Indian startups raise $26.8bn VC funding during January-October 2021, reveals GlobalDataPosted in Business Fundamentals
India continues to be the second major market after China in the Asia-Pacific (APAC) region in terms of venture capital (VC) funding activity. With the daily new COVID-19 cases consistently decreasing for some time, VC investors seem to be betting big on the country’s startup ecosystem. Against this backdrop, Indian startups raised $26.8bn VC funding during January-October 2021, reveals GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Financial Deals Database reveals that a total of 1,339 VC funding deals were announced in India during January-October 2021.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “VC funding value in India has been witnessing growth since July through September while VC deal volume also improved in September. However, October reversed the growth trend as VC funding value as well as volume declined compared to the previous month.”
Nevertheless, October managed to see the announcement of several $100m+ deals. Some notable VC funding deals announced during the month include $350m funding raised by Pharmeasy, $260m funding raised by Coinswitch Kuber and $255m funding raised by Acko General Insurance.
Bose concludes: “The subdued VC funding activity in October is likely to be for short-term. Rising smartphone penetration and affordable mobile Internet have transformed India into a digital-first economy. As a result, the long-term prospects for Indian VC funding landscape seem bright with record birth of several unicorns during 2021 testifying growing investors traction.”