Placeholder canvas

Indian startups raise $38.3 billion funding in 2018; stand on third position

Date:

In a major upliftment in the startup arena, India stands on the third position behind the US and China in terms of funding as Indian startups are estimated to have raised $38.3 billion in funding in 2018.

A report by Yostartups revelled that Flipkart’s $16 billion deal with American retailer Walmart accounted for the biggest piece of the pie, followed by Swiggy raising about $1.3 billion over three deals, and OYO picking up $1 billion in 2018, the report said.

Other big funding deals included those by Paytm Mall ($895 million), ReNew Power ($495 million), Byju’s ($422 million) and Zomato ($410 million).

ALSO READ: CarDekho raises $110 million Series C funding

Around 1,000 deals were signed by Indian startups in 2018 with areas like e-commerce, fintech, sustainability and renewable energy, transportation and logistics, health and wellness, and travel and tourism attracting the highest investments, it added.

“There has been a meteoric rise of startup funding for Indian startups. Asia has emerged as a key contender for startups globally, beating the Americas and Europe. In 2018, startups in Asia raised $ 172 billion, compared to $162.9 billion in Americas and $46.2 billion in Europe,” Yostartups CEO Jappreet Sethi was quoted in a report.

ALSO READ: Demand notice issued for Startups asking to pay Angel Tax by March-end

Globally, about 14,300 funding deals were struck by startups in 2018, raising over $ 400 billion, an increase of more than 23 per cent from the previous year, the report said.

It added that over 3,700 seed funding deals (totalling $6.9 billion) were struck, while 7,357 venture funding deals – ranging from series A to Series I – were signed in 2018 to raise $217.9 billion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Orry Faces Backlash After Declining Handshake At Event

Internet sensation Orry, famed for his wild antics and...

From Deepfake Concerns To India’s AI Mission PM Modi Interacts With Bill Gates

New Delhi: Prime Minister Narendra Modi engaged in a...

NewsMobile Morning Brief

Actor Govinda Joins Eknath Shinde’s Shiv Sena Ahead Of...

Gangster-Turned-Politician Mukhtar Ansari Dies Of Cardiac Arrest

Banda: Gangster turned politician Mukhtar Ansari passed away at...