Local tech startups in the nation raised $14.5 billion in 2019, beating their previous best of $10.5 billion last year, according to research firm Tracxn .
Early stage startups — those participating in angel or pre-Series A financing round — raised $6.9 billion this year, easily surpassing last year’s $3.3 billion figure, according to a report by venture debt firm InnoVen Capital.
According to InnoVen’s report, early stage startups that have typically struggled to attract investors saw a 22% year-over-year increase in the number of financing deals they took part in this year.
This year, Indian tech startups also attracted a record number of international investors, according to Tracxn.
Sequoia Capital, with more than 50 investments — or co-investments — was the most active venture capital fund for Indian tech startups this year.