Except Indian startups, funding in young tech companies globally declined in 2019
Even as the total funding in startups globally went down by 22 per cent to $293 billion from $375 billion in 2018 along with a 27 per cent drop in deals, Indian startups have stood out. Funding in Indian tech start-ups grew 18 per cent to $14 billion in 2019. Deal volume in Indian startups too, however, went down by 15 per cent in 2019 from the previous year. Delhi-NCR and Bengaluru attracted majority funding — $7.4 billion and $4.4 billion respectively in 2019, according to a report by research and consulting firm HexGn, PTI reported. The decline in funding in Asian startups was 56 per cent to $83 billion in 2019 from $158 billion in 2018.
India performed better not just in deal value but also with respect to the number of deals with companies like OYO, Paytm, Ola Electric, Udaan, Bounce, and Delhivery raising large rounds, according to the report. In terms of the top sectors where investors bet were fintech where startups saw more than $4.1 billion in funding apart from $2.4 billion invested in startups in transportation and logistics and $2.2 billion investment in the e-commerce sector.