Investments in Indian startups saw 322% boost in July

Jio platforms alone accounted for nearly 87% of the total amount in fundings. However, the number of companies involved fell to 82 last month compared to 120 in July 2019.

Investments in the Indian startup ecosystem boosted by 322 percent in July year-on-year. They rose to $5.61 billion in the month compared to 1.33 billion dollars recorded in the same period last year, according to data from investments and financials of private companies and startups tracking firm Tracxn. 

Jio platforms alone accounted for nearly 87% of the total amount in fundings. However, the number of companies involved fell to 82 last month compared to 120 in July 2019.

According to the Businessline report, sector-wise Telecom with $4,854 million is at the top. The other sectors are enterprise infrastructure with $236.2 million, ed-tech with $164.95 million, real estate and construction tech with $78.1 million, retail which $57.42 million, media and entertainment with $53.90 million. The consumer sector, inclusive of online and technology-enabled business-to-consumer space raised $183.47 million.

Sectors that attracted the least investment in July included health tech with $21.74 million, automobile tech with $18.13 million, finance tech with $18.04 million, and travel and hospitality tech with $9.88 million. Logistics tech and life sciences attracted no funding in July, the report added.

Jio platforms, Nxtra Data, Vedantu, Zolo, and Toppr were the top 5 funded companies in July 2020 and the most active investors based on the number of deals in July included Mumbai angels, Matrix partners India, Accel, LetsVenture and Unicorn India Ventures.