Indian startups have received venture capital (VC) funding of $33.7 billion in 2021, as demand for digitization grew manifold amid the COVID-19 pandemic, according to GlobalData.
An analysis of GlobalData’s Financial Deals Database reveals a total of 1,698 VC funding deals were announced in India during 2021.
There was a jump of 52 percent and 302 percent in deal volume and value, respectively, in 2021 compared to the previous year.
“2021 remained a great year for startups in India with the year also seeing the birth of a record number of unicorns. Another interesting thing to note is the announcement of 85 deals with funding value more than or equal to $100 million, which accounted for just around 5 percent of deal volume but close to 70 percent of the funding amount,” Aurojyoti Bose, Lead Analyst at GlobalData, said.
Some of the notable VC funding deals announced during 2021 in India include $3.6 billion funding raised by Flipkart in July, $840 million raised by Dream Sports in November, $570 million funding raised by Fashnear Technologies (Meesho) in September and $500 million funding raised by Zomato in January.