Companies

Emerging sectors top fund-raising charts in February

Annapurani V Chennai | Updated on March 03, 2020

Investments surge over 361% year on year

 

As many as 65 companies mopped up a total of $490 million in funding in February 2020, according to data from Tracxn, a firm that tracks investments and financials of private companies and start-ups.

The data also shows the funding climbed a massive 361.13 per cent YoY during the month ( from $110 million in February 2019).

The top funded sectors included fintech at $136.35 million, edtech at $112.34 million, food tech at $46.10 million and agriculture at $40.60 million. The consumer sector, which encompasses online and technology-enabled consumer-facing companies in the business-to-consumer (B2C) space, garnered $238.09 million this February.

 

 

On the other hand, sectors such as insurtech, which encompasses platforms and companies that use technology to transform the insurance industry ($0.35 million), real estate and construction tech ($1.50 million), logistics tech ($2.80 million), media and entertainment ($6.06 million) and enterprise infrastructure ($7.60 million), were among the least-funded in February 2020.

Bengaluru-based online tutoring edtech firm Unacademy received the highest funding, at $110 million, according to data from Tracxn. The top investors included American venture capital firm Sequoia Capital, Nexus Venture Partners, Morgan Stanley, Blume Ventures and Facebook.

 

 

Published on March 02, 2020

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