Indian start-ups raise $4.3bn funds in 9 months: Nasscom


Indian start-ups have raised around $4.3-billion (Rs 31,476-crore) in nine months, illustrating a bumper growth of the industry, reported IT major Nasscom.

The sum was raised from January to September 2018, said Nasscom.

start-ups“The investment in Indian start-ups increased 108 percent annually from $2-billion from January to September in 2017, to $4.2-billion during the same period in 2018,” said Debjani Ghosh, President, Nasscom.

While releasing the report titled ‘Indian Start-up Ecosystem — Approaching Escape Velocity‘, the IT trade body said that a total of 1,200 start-ups were added in 2018 till September. Further, the number of start-ups in India inflated over the past five years with a total of about 7,200-7,500 as of September.

 It, however, did not share any details on the number of active and functioning start-ups in the country.

The report further revealed that a total of eight unicorns, which are start-ups valued at over $1-billion, were added to the list of start-ups in the country. This is so far the highest number of unicorns in a calendar year in the start-up history.

The list of unicorns added this year comprised of Hospitality firm Oyo, food delivery and restaurant search platform Zomato, food delivery platform Swiggy, business-to-business e-commerce start-up Udaan, educational technology app Byju’s, digital payments app Paytm owned e-commerce platform Paytm Mall, software maker Freshworks and digital insurance aggregator Policybazaar.

The report asserted that start-ups in the country created around 40,000 new jobs over the year, escalating the total jobs in the start-up ecosystem to 1.6-1.7 lakh.

It is estimated that start-ups will create nearly four-five lakh more jobs.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.