Indian startups raise $38.3 billion funding in 2018; e-commerce, fintech attract highest investments: Report

Around 1,000 deals were signed by Indian startups in 2018 with areas like e-commerce, fintech, sustainability and renewable energy

Press Trust of India January 03, 2019 17:41:03 IST
Indian startups raise $38.3 billion funding in 2018; e-commerce, fintech attract highest investments: Report

New Delhi: Indian startups are estimated to have raised $38.3 billion in funding in 2018, behind only the US and China, a report by Yostartups said Thursday.

Flipkart's $16 billion deal with American retailer Walmart accounted for the biggest piece of the pie, followed by Swiggy raising about $1.3 billion over three deals, and OYO picking up $1 billion in 2018, the report said.

Other big funding deals included those by Paytm Mall ($895 million), ReNew Power ($495 million), Byju's ($422 million) and Zomato ($410 million).

Indian startups raise 383 billion funding in 2018 ecommerce fintech attract highest investments Report

Representational Image. Reuters

Around 1,000 deals were signed by Indian startups in 2018 with areas like e-commerce, fintech, sustainability and renewable energy, transportation and logistics, health and wellness, and travel and tourism attracting the highest investments, it added.

"There has been a meteoric rise of startup funding for Indian startups. Asia has emerged as a key contender for startups globally, beating the Americas and Europe. In 2018, startups in Asia raised $172 billion, compared to $162.9 billion in Americas and $46.2 billion in Europe," Yostartups CEO Jappreet Sethi said.

Globally, about 14,300 funding deals were struck by startups in 2018, raising over $400 billion, an increase of more than 23 per cent from the previous year, the report said.

It added that over 3,700 seed funding deals (totalling $6.9 billion) were struck, while 7,357 venture funding deals – ranging from series A to Series I – were signed in 2018 to raise $217.9 billion.

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