India's startups beat COVID-19 odds to raise $11.6b in 2020

Photo by Akshay Nanavati on Unsplash

Indian startups recovered faster than expected despite the COVID-induced fog of uncertainty last year, and the numbers are proof. Private equity firms and venture capitalists pumped in at least $11.65 billion in startups in 2020, according to DealStreetAsia – Research & Analytics’s latest report.

According to India Deal Review: Q4 2020, while the year began on a high note, Indian startups started to experience a drop in deal numbers April onwards and hit a nadir in May. While overall investment sentiment remained tepid amidst the coronavirus crisis, fundraising started to show signs of a recovery in June and hit a peak in September with record transactions worth $1.9 billion.

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