According to data from venture capital, India’s Startup industry received $468 million through venture funding across 51 deals. However, this number is far lower than the September figure. In September, India was able to raise $1150 from 52 deals.
“I would not read much into the value of the deals declining month-on-month. While September saw three $150 million + deals – Byjus, Dream11, and Unacademy – getting announced, the mega-deals announced in October were smaller in ticket size. The fact that SoftBank has registered its first new investment in India for the year in the form of Unacademy (announced in September) – come as an added booster.” said Arun Natarajan, Venture Intelligence founder.
The seed and Series A segments were active in terms of the number of deals. Sequoia closed the highest number of deals during this period, followed by Matrix and Lightspeed. Fintech is the second favourite sector, followed by Edtech, AI, and e-commerce. In the cityscape, Bengaluru had the greatest number of deals, followed by Mumbai, Delhi, and Chennai.
Natarajan said, “From a sector perspective, after the mega funding of the leaders in the B2C Edtech segment, it would not be a surprise if we see a slowing down in the mega-deals in this space towards the year-end, this would probably be positive for other sectors that we are waiting a fresh look from investors post the COVID lockdown.”
In October, Freshtohome raised $106 million, ChargeBee raised $55 million and Finova Capital raised $36 million.
