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05.06 - 10:01
Despite tales of doom, India story draws VCs
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Investors evidently haven’t lost their appetite for Indian startups, as funding levels have risen again after a dramatic fall in March when covid-19 was declared a pandemic.
The caveat is that most funding is for existing startups to ride out the pandemic. New deals are in limbo. Indian startups raised $15.33 billion in funding last year, according to venture capital data tracker Tracxn.
That comes to $1.25 billion a month on average. The trend continued in January and February this year, with $1.2 billion and $1.1 billion in funding.
Then came the pandemic.March saw startup funding fall to $534 million compared to $1.73 billion in the corresponding month of 2019, shows Tracxn data.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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