[ad_1]
Amid the funding winter, 128 Indian startups have raised over USD 995 million (round Rs 8,000 crore) enterprise capital funding in August, GlobalData mentioned on Thursday.
The funds raised in August are 9.7 per cent greater than that within the earlier month, the information and analytics firm mentioned in an announcement.
Aurojyoti Bose, Lead Analyst at GlobalData, mentioned: “Though the full VC funding quantity nonetheless stays beneath USD 1 billion akin to July, August managed to reverse the decline in fundraising, regardless of a 2.3 per cent fall in deal quantity.”
The expansion has come at a time when fundraising in different key world markets such because the US and UK witnessed decline. “China and India had been the 2 notable exceptions to this pattern,” Bose mentioned.
An evaluation of GlobalData’s Monetary Offers Database revealed that India noticed the announcement of 1,239 VC funding offers throughout January to August 2022, whereas the disclosed funding worth within the year-ago interval stood at USD 17.7 billion.
Bose mentioned regardless of the financial volatility, Indian startups fractionally managed to realize buyers’ confidence. “Because the cyclical phenomenon of the funding winter suggests, India witnessed a slight month-on-month enchancment in VC fundraising in August.”
[ad_2]
Source link
