January 04

Startups raised $38 bn funding- Flipkart, ReNew Power among big names

New Delhi: Indian startups are estimated to have raised USD 38.3 billion in funding in 2018, behind only the US and China, a report by Yostartups said. 

Flipkart's USD 16 billion deal with American retailer Walmart accounted for the biggest piece of the pie, followed by Swiggy raising about USD 1.3 billion over three deals, and OYO picking up USD 1 billion in 2018, the report said. 

Other big funding deals included those by Paytm Mall (USD 895 million), ReNew Power (USD 495 million), Byju's (USD 422 million) and Zomato (USD 410 million). 

Around 1,000 deals were signed by Indian startups in 2018 with areas like e-commerce, fintech, sustainability and renewable energy, transportation and logistics, health and wellness, and travel and tourism attracting the highest investments, it added. 

"There has been a meteoric rise of startup funding for Indian startups. Asia has emerged as a key contender for startups globally, beating the Americas and Europe. In 2018, startups in Asia raised USD 172 billion, compared to USD 162.9 billion in Americas and USD 46.2 billion in Europe," Yostartups CEO Jappreet Sethi said. 

Globally, about 14,300 funding deals were struck by startups in 2018, raising over USD 400 billion, an increase of more than 23 per cent from the previous year, the report said. 

It added that over 3,700 seed funding deals (totalling USD 6.9 billion) were struck, while 7,357 venture funding deals - ranging from series A to Series I - were signed in 2018 to raise USD 217.9 billion.

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