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Investments in Indian startups jumped 322 percent to USD 5.6 Billion in July 2020

Mumbai: Investments in Indian startups jumped 322 percent to $5.61 billion in July compared to $1.33 billion recorded in the same period last year, data from Tracxn showed. The number of companies involved however fell to 82 last month compared to 120 in July 2019.

Sector-wise, telecom came up trumps with $4,854 million investment, Hindu BusinessLine reported.

The other top funded sectors were enterprise infrastructure, which raised $236.2 million worth of investments, consumer sector (inclusive of those in online and tech enabled business-to-consumer space): $183.47 million, education technology: $164.95 million, real estate and construction technology: $78.1 million, retail: $57.42 million and media and entertainment: $53.90 million.

Sectors which attracted the least investment in July included health tech ($21.74 million), automobile tech ($18.13 million), finance tech ($18.04 million) and travel and hospitality tech ($9.88 million). Logistics tech and life sciences in fact attracted no funding in July, it added.

Among companies, telecom company Jio Platforms, edu-tech platform Toppr, property startup Zolo, Vedanta and Nxtra Data were the top five funded entities in July. Investors with the most number of deals were Accel, Unicorn India Ventures, Matrix Partners India, Mumbai Angels and LetsVenture.

Savio Rodrigues

Savio Rodrigues Founder & Editor-in-Chief GoaChronicle.com

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