An international publication’s report states that the startup ecosystem in India and Indian tech startups have never experienced a better year than 2019. In 2019, tech startups in India raised $14.5 billion. According to the research company Tracxn, they have surpassed their previous record of $10.6 billion set in 2018. In addition, technology startups in India have participated in 1,185 financing rounds, indicating a boom in the sector.
459 of these were Series A and subsequent rounds funded by 817 investors. According to the report by InnoVen Capital, early-stage startups have had difficulty attracting investors. This year, the number of financing deals in which they participated increased by 22% year-over-year. Their value increased by 15% from last year to approximately $2.6 million on average. India’s Latest Startup Mecca Ahmedabad, India’s Manchester City, has established itself as one of the “emerging startup hubs” in the country. According to Nasscom and the consulting firm Zinnov, Ahmedabad has a roughly 43% share of funded startups in emerging hubs. Other emerging startup hubs, including Kochi, Kolkata, and Jaipur, are definitely home to tech startups. Between 2014 and 2019, approximately 150 startups were established in these emerging hubs, with Ahmedabad accounting for approximately 43% of those launches. Jaipur came in second with 25%, followed by Kolkata with 17% and Kochi with 15%. India’s Startup Funding Situation India’s startup ecosystem and startup funding landscape have been quite impressive. In order to secure funding, the Niti Aayog Departments of Science and Technology, the Ministry of Electronics and Information Technology (MeitY), and the state governments themselves have been of tremendous assistance. This is mostly for cities in Tier 2 and Tier 3. The majority of startups in these emerging hubs are still in the seed and early stages, according to a Nasscom report. However, there have been outsiders such as LendingKart that could be considered unicorns. Also, data show that, since 2014, the number of startups in emerging hubs has increased by 55%, compared to the 12-15% growth in the Indian startup ecosystem as a whole.