Facebook, Amazon, Microsoft, Google and Apple (also known as FAMGA) the five big global tech giants have set records in terms of start-up funding.
According to a report, the companies have invested 44% in the US, 33% in India, 11% in the UK and 11% in other countries.
A huge chunk of the investment has gone to Reliance’s Jio. Google, Facebook, Amazon also happen to be Reliance’s strategic investors.
Other recipients of these funds have been Unacademy, Capital Float and BankBazaar.
In Q3’20, quarterly equity funding with FAMGA participation again hit a record high of $7.9B across 9 deals. 2020 annual funding has already far surpassed 2019’s total, making this a record year despite the coronavirus outbreak." https://t.co/L9xEoyuxcB
— Halim Özberrak (@halimozberrak) September 13, 2020
