According to data from consultancy firm Tracxn, even under the adverse challenges of Covid-19, Indian startups received investments nearly $9.3 billion in 2020.
In 2019, a record $14.5 billion raised by Indian startups. However, compared to the investment that Indian startups received in 2020, it is a much lower figure but still under such economic conditions.
As per reports, there were 20 funding rounds with deal size $100 million or larger in 2020 compared to 26 in 2019. The figures, however, exclude the funds raised by Jio Platforms which was 20 billion dollars, which dwarfs other investments.
The report also reveals that fortunes for the Indian startups turned significantly in the second half of the year and startups raised just 4.2 billion dollars in the first half of the year from about 461 deals, said Tracxn.
The year saw 11 Indian startups including RazorPay, Glance and Unacademy becoming a unicorn.
One of the most important takeaways from the report published by Tracxn is that global tech giants Google, Microsoft and Facebook have invested more in Indian startups compared to Chinese tech giants Alibaba and Tencent amid border tensions with India.
(Image Credits: Inc42)