With two months of 2019 still to go, Indian tech startups are already having their best year as a record amount of capital flows into the local ecosystem in a major rebound since the darkened funding environment of 2016.
The unlisted tech startups in India have raised $11.3 billion this year, a substantial jump from last year’s $10.5 billion fundraise, research firm Tracxn told TechCrunch.
Startups with consumer-facing offerings including financial services have attracted most of the venture capital this year — about $8.2 billion, Tracxn said.
There are some other promising signals as well: Of the top 150 Indian startups that raised capital in the first half of this year, 17.3% of them were either led or co-led by women, Indian news outlet The Morning Context reported on Wednesday, citing data from research firm Venture Intelligence.
But that number, as well as total fundraise amount, could change substantially by the end of the year as many more startups prep to close new financing rounds.