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Tech ObserverNewsStartups‘Amid slow economic recovery, Indian startups rake in record $10.9 bn in funding in Q2’

‘Amid slow economic recovery, Indian startups rake in record $10.9 bn in funding in Q2’

In the first three quarters of 2021, investments worth $4.6 billion in the FinTech space were recorded

In the first three quarters of 2021, investments worth $4.6 billion in the FinTech space were recorded

Even as the economy continues to show slow growth trends, the Indian startup ecosystem has received a record $10.9 billion in funding across 347 deals in the third quarter of 2021, a India report said.

This is twice the amount of funding received in Q3 of the calendar year 2020 and an approximate increase of 41% compared to the second quarter of 2021.

The report shows an increase in funding activity was witnessed across all sectors in terms of value and volume. However, , , and SaaS are the top three hot investment sectors in the calendar year 2021 (CY21), together accounting for approximately 47% of the total funding activity, the report – Startup Perspectives – Q3 CY21 – said.

In the first three quarters of 2021, investments worth $4.6 billion in the FinTech space were recorded, which is an increase of approximately three times from $1.6 billion in 2020.

Investments worth $2.5 billion for 53 deals closed in the FinTech segment were recorded in the third quarter of CY21 alone across various stages of investment, the report said.

Approximately 84% of the funding activity was driven by growth and late-stage deals. Around 61% of the total deal activity consisted of early-stage funding rounds for $1.6 billion – (average ticket size per round USD 4 million), the report said.

Bengaluru and NCR continue to be the key start-up cities in the country, together contributing around 76-78 percent of the total funding activity in the first three quarters of both CY20 and CY21, followed by Mumbai and Pune, the report said.

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