With two months of 2019 still to go, Indian tech startups are already having their best year as a record amount of capital flows into the local ecosystem in a major rebound since the darkened funding environment of 2016.
The unlisted tech startups in India have raised $11.3 billion this year, a substantial jump from last years $10.5 billion fundraise, research firm Tracxn told TechCrunch.
This years fundraise, the largest sum for the local ecosystem in any year, further moves the nations burgeoning startup space on a path of steady growth. Since 2016, when tech startups accumulated just $4.3 billion down from $7.9 billion the year before flow of capital has increased significantly in the ecosystem. In 2017, Indian startups raised $10.4 billion, according to Tracxn.
Startups with consumer-facing offerings including financial services have attracted most of the venture capital this year about $8.2 billion, Tracxn said. Following that is retail startups that have bagged about $2.3 billion and those that offer enterprise services, with $1.5 billion. (There is some overlap of startups whose offerings fall under more than one category.)
Investors growing appetite for equity in Indias startups shows that the local ecosystem is maturing, said Dev Khare, a partner at VC fund Lightspeed Venture Partners . In an interview with TechCrunch, Khare noted that in 2014 and 2015, startups were largely focused on building e-commerce solutions and replicating ideas that worked in Western markets.
But today, they are tackling a wide-range of categories and opportunities and building some solutions that have not been attempted in any other market, he said. He attributes much of this change to the arrival of telecom operator Reliance Jio and some government efforts, such as introduction of GST taxation system for businesses and introduction of UPI payments infrastructure.
Jio, a three-year-old telecom operator run by Indias richest man, Mukesh Ambani, has disrupted the market with incredibly low-cost mobile data. The low-cost data meant that overnight, tens of millions of Indians were able to come online for the first time.
This, alongside a cash crunch created by New Delhi in late 2016, led to a sudden explosion in demand for content and services, including mobile wallets that created a massive opportunity for local startups to innovate, Khare said.
Financial services firm Paytm, which has raised more than $2 billion to date, has more than 200 million registered users in India, while Google Pay has amassed over 67 million active customers in less than two years of its existence.
Additionally, Khare said more people than ever in India today are willing to work at a startup. Citing Lightspeeds internal research, he said in 2010, only 10% of founders of startups that had reached a Series A financing round had worked at a startup before. That figure went up to 36% in 2014 and ballooned to 70% last year.
There are some other promising signals as well: Of the top 150 Indian startups that raised capital in the first half of this year, 17.3% of them were either led or co-led by women, Indian news outlet The Morning Context reported on Wednesday, citing data from research firm Venture Intelligence. This is a massive jump from last year, when just 10% of startups counted women as their founder or co-founder.
A trend that appears to continue from the last several years is concentration of funds in a smaller number of startups. So far, tech startups in India have participated in 872 financing rounds, compared to 924 last year, and 1,141 in 2017.
But that number, as well as total fundraise amount, could change substantially by the end of the year as many more startups prep to close new financing rounds. Zomato, Swiggy and Paytm alone are expected to close rounds worth as much as $3 billion in the coming months.
Its fascinating turnaround for the nation, which just 10 years ago had a very small startup ecosystem. In a recent interview with TechCrunch, Paytm founder and CEO Vijay Shekhar Sharma recounted the early days of One97, the parent firm of Paytm, and how difficult it was for him to raise a few hundred thousand dollars.
Read the original post:
Indian startups have raised a record $11.3B this year - TechCrunch
- Green with Envy | How to Spot an Eco-Snob | Part III - November 8th, 2009 [November 8th, 2009]
- EcoLogo - November 8th, 2009 [November 8th, 2009]
- 5 Ways to Green Your Exercise Routine - November 8th, 2009 [November 8th, 2009]
- Seed Bombs - November 8th, 2009 [November 8th, 2009]
- Guerrilla gardening - November 8th, 2009 [November 8th, 2009]
- Green Your Morning Routine - November 8th, 2009 [November 8th, 2009]
- Environmental Benefits of Telecommuting - November 8th, 2009 [November 8th, 2009]
- Safeway Sponsors Portland Community Cleanup - November 8th, 2009 [November 8th, 2009]
- Electric Vehicle Race - November 8th, 2009 [November 8th, 2009]
- Portland Bridge Pedal 2009 - November 8th, 2009 [November 8th, 2009]
- E-waste in Oregon - November 8th, 2009 [November 8th, 2009]
- Bike Sharing in Portland - November 8th, 2009 [November 8th, 2009]
- Bucks for the Bay Challenge - November 8th, 2009 [November 8th, 2009]
- Drive to Make a Difference with MyMPG - November 8th, 2009 [November 8th, 2009]
- Bathroom Sprayers - Green your Toilet Routine - November 8th, 2009 [November 8th, 2009]
- Ubuntu OS can Save Energy - November 8th, 2009 [November 8th, 2009]
- Green Metropolis, David Owen - November 8th, 2009 [November 8th, 2009]
- Sustainable Pens: GLO Pens - November 8th, 2009 [November 8th, 2009]
- International Day of Climate Action - November 8th, 2009 [November 8th, 2009]
- Donate to Oregon Toxics Alliance - November 8th, 2009 [November 8th, 2009]
- Biomass Energy Generation Myths - November 8th, 2009 [November 8th, 2009]
- Crude The Real Price of Oil | Playing in Portland - November 8th, 2009 [November 8th, 2009]
- Pictures From 350 Climate Day in Portland - November 8th, 2009 [November 8th, 2009]
- Arcimoto Electric Vehicles in Oregon - November 8th, 2009 [November 8th, 2009]
- Urban Rooftop Wind Turbines - November 8th, 2009 [November 8th, 2009]
- Chromium 6 Emissions from ESCO in Portland - December 13th, 2009 [December 13th, 2009]
- Food Inc. Review - December 19th, 2009 [December 19th, 2009]
- Making Maps with Google Earth and Google Maps by Shane Bradt of the University of New Hampshire Cooperative Extension - March 23rd, 2010 [March 23rd, 2010]
- Demonstration of Miradi 3.1 by Nick Salafsky of Foundations of Success - March 23rd, 2010 [March 23rd, 2010]
- Advanced Mashups – KML and the Mapping API by Cary Chadwick of the University of Connecticut Center for Land Use Education and Research - March 23rd, 2010 [March 23rd, 2010]
- Demonstration of InVEST by Heather Tallis of the Natural Capital Project - March 23rd, 2010 [March 23rd, 2010]
- GIS Maps Online by Emily Wilson of the University of Connecticut Center for Land Use Education and Research - March 23rd, 2010 [March 23rd, 2010]
- From ArcGIS to Web Maps: Simple Techniques for Publishing GIS Maps Online by Emily Wilson of the University of Connecticut Center for Land Use Education and Research - March 25th, 2010 [March 25th, 2010]
- Demonstration of Marine InVEST by Anne Guerry of the Natural Capital Project - March 31st, 2010 [March 31st, 2010]
- Eliminate and Decrease Styrofoam - March 31st, 2010 [March 31st, 2010]
- Portland Plans to Spend $600 million on Master Bike Plan - April 2nd, 2010 [April 2nd, 2010]
- (Webinar in Spanish) Demostración sobre Vista 2.5 de NatureServe en línea (Webinar) por Ian Varley, Carmen Josse, y Alexandra Sanchez de Lozada de NatureServe. - April 6th, 2010 [April 6th, 2010]
- Using and Adding Your Content to Google Ocean by Charlotte Vick, Google Content Manager of Mission Blue - April 13th, 2010 [April 13th, 2010]
- End Paper Receipts - May 1st, 2010 [May 1st, 2010]
- Demonstration of CanVis by Chris Haynes of NOAA Coastal Services Center - May 6th, 2010 [May 6th, 2010]
- Demonstration of HD.gov Web Portal by Jeff Adkins from NOAA Coastal Services Center - May 13th, 2010 [May 13th, 2010]
- Demonstration of Ecosystem Assessment and Reporting Tool by Steve Schill of The Nature Conservancy - May 13th, 2010 [May 13th, 2010]
- Demonstration of Version 2.0 of the Multipurpose Marine Cadastre by Adam Bode and Brian Smith of NOAA Coastal Services Center - May 17th, 2010 [May 17th, 2010]
- CRUDE Filmmakers Subpoenaed by Chevron - May 22nd, 2010 [May 22nd, 2010]
- Demonstration of the Digital Coast Coastal Inundation Toolkit by Steph Beard, Jodie Sprayberry and Billy Brooks of NOAA Coastal Services Center - May 25th, 2010 [May 25th, 2010]
- Presentation on the Creating Resilient Communities EBM Tool Demonstration Project by Jocelyn Hittle of PlaceMatters - June 10th, 2010 [June 10th, 2010]
- Presentation on Economic Data Needed for EBM by Linwood Pendleton of Duke University - October 11th, 2010 [October 11th, 2010]
- Recycling Water - October 16th, 2010 [October 16th, 2010]
- ODOT Partners with Oregon Toxics Alliance to Reduce Pesticides - October 17th, 2010 [October 17th, 2010]
- Goats Hired to Mow Portland Lot - October 17th, 2010 [October 17th, 2010]
- A World of Health: Connecting People, Place, and Planet - October 17th, 2010 [October 17th, 2010]
- Alternative Recycling Options - October 17th, 2010 [October 17th, 2010]
- No More Bullying the Bull Trout - October 17th, 2010 [October 17th, 2010]
- 1000+ EV Charging Stations Slated for Oregon I-5 Corridor - October 17th, 2010 [October 17th, 2010]
- The Vertical Farm Concept - October 17th, 2010 [October 17th, 2010]
- Blog Action Day 2010 | Water - October 17th, 2010 [October 17th, 2010]
- Eco Districts - October 24th, 2010 [October 24th, 2010]
- Will The Nissan Leaf Thrive? - October 24th, 2010 [October 24th, 2010]
- A Green Railroad - October 24th, 2010 [October 24th, 2010]
- Biomass is not Oregon's clean-energy future as currently promoted - October 24th, 2010 [October 24th, 2010]
- Electrified Parking Spaces - October 24th, 2010 [October 24th, 2010]
- Tree Planting - October 24th, 2010 [October 24th, 2010]
- Three Tips to Reduce Your Carbon Footprint and Live Longer. - October 24th, 2010 [October 24th, 2010]
- Biomass is not Oregon’s clean-energy future as currently promoted - October 31st, 2010 [October 31st, 2010]
- Rail~Volution - October 31st, 2010 [October 31st, 2010]
- Green Streets Initiative - October 31st, 2010 [October 31st, 2010]
- Mayor Kitty Piercy and Envision Eugene - November 7th, 2010 [November 7th, 2010]
- The Willamette River Transit Bridge - November 13th, 2010 [November 13th, 2010]
- Collaborative Learning and Land Use Tools to Support Community Based Ecosystem Management by Chris Feurt of the Wells National Estuarine Research Reserve - November 14th, 2010 [November 14th, 2010]
- Portland Federal Building Begins Green Makeover - November 14th, 2010 [November 14th, 2010]
- Vestas’ New HQ in Portland Shoots for LEED Platinum - November 14th, 2010 [November 14th, 2010]
- College Degrees to Get You in the Environmental Field - November 14th, 2010 [November 14th, 2010]
- Demonstration of openNSPECT, an Open Source Version of the Nonpoint-Source Pollution and Erosion Comparison Tool by Dave Eslinger of NOAA Coastal Services Center - February 14th, 2011 [February 14th, 2011]
- Demonstration of EMDS by Keith Reynolds of the US Forest Service - February 14th, 2011 [February 14th, 2011]
- Demonstration of Habitat Priority Planner by Chrissa Waite and Danielle Bamford of NOAA Coastal Services Center - February 14th, 2011 [February 14th, 2011]
- Presentation on the Coastal Adaptation to Sea Level Rise Tool (COAST) by Sam Merrill of the New England Environmental Finance Center - February 14th, 2011 [February 14th, 2011]
- Presentation on the Coastal and Marine Ecological Classification Standard by Kathy Goodin of NatureServe - February 14th, 2011 [February 14th, 2011]
- Demonstration of Coral Reef Scenario Evaluation Tool (CORSET) by Jessica Melbourne-Thomas of the University of Tasmania - February 14th, 2011 [February 14th, 2011]
- Demonstration of Multi-scale Integrated Models of Ecosystem Services (MIMES) by Roel Boumans and David McNally of AFORDable Futures LLC - February 14th, 2011 [February 14th, 2011]
- Creating Life in the Desert - February 14th, 2011 [February 14th, 2011]