Indian startups received $6.1 billion in funding in Q3CY21: Nasscom report
In the third quarter of calendar year 2021, India’s technology startup ecosystem received $6.1 billion in funding, a drop of about 6% from the previous quarter.
The “Tech Start-up: Quarterly Investment Factbook” (Q3 CY2021 Start-up deal analysis) examines trends in five important verticals: fintech, healthtech, retailtech, education technology, and enterprise technology.
There was a greater emphasis on late-stage businesses, which accounted for more than half of the deal value. This quarter, edtech and food tech dominated the deal landscape, accounting for more than half of the total deal value.
Only 14 agreements worth more than $100 million were made among early-stage startups, indicating that smaller ticket size deals dominated fundraising. There were 121 early-stage startup funding deals in all.
The number of unicorns, or companies worth $1 billion or more, has increased. India gained 13 new unicorns in the quarter ending September 2021, bringing the total to 66. The edtech and financial sectors account for five of the 13 unicorns added this quarter.
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