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.