'Indian startups bagged $9.3bn investments in 2020'

NEW DELHI: Despite the Covid-19 challenges, Indian startups received investments to the tune of $9.3 billion in 2020, according to data from consultancy firm Tracxn.

The figure is much lower than the record $14.5 billion raised by Indian startups last year as the number of deals this year reached 1,088 from 1,185 last year, TechCrunch reported on Monday.

There were 20 funding rounds with dealsize $100 million or larger in 2020 compared to 26 in 2019.

Similarly, rounds with dealsize $50 million to $100 million fell to 13 in 2020 from 27 last year. The figures exclude the funds rasied by Jio Platforms, which alone bagged over $20 billion investments this year.

The report reveals that fortunes for the Indian startups turned significantly in the second half of the year. (IANS)

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