Indian startups attract USD 2.5 bn funding in Q1 2020

Indian tech-led startups attracted funding worth 2.5 billion dollars in the first quarter of 2020, a 14 percent rise compared to the same period last year, a report by research and consulting firm HexGn said.

HexGn said the numbers are an early indication and there could be changes as more companies make announcements on funds received. It also anticipated delays in sharing of such information



amid the coronavirus outbreak that has disrupted businesses worldwide.

The report states, the number of startup funding deals in India has jumped 30 percent in the first quarter of 2020, to 277, from 210 in in the same quarter of 2019. Another good news is that the Indian funding in the same quarter was not dominated by mega-billion dollar-plus infusions.