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Covid-19 has hit fund-raising by Indian start-ups hard. In April, investments plunged 84.3 per cent year-on-year (YoY) to $0.12 billion, compared with $0.78 billion in the same month last year, per data from Tracxn, a firm that tracks the investments and financials of private companies and start-ups.
The number of companies that received funding also dropped, from 97 last April to just 48 last month.
The top-funded sectors included fintech at $28.8 million, enterprise applications at $22.2 million, retail at $17.4 million and media and entertainment at $16.3 million. The consumer sector, which encompasses online and technology-enabled consumer-facing companies in the business-to-consumer (B2C) space, garnered $48 million.
On the other hand, sectors such as insuretech (which encompasses platforms and companies that use technology for the insurance industry), auto tech, enterprise infrastructure and life sciences did not receive any funding last month.
Setu, Itilite, Bijak, Pratilipi and Zupee were the top five funded companies this April. The most active investors — based on their participation in equity funding rounds in April — included American venture capital firm Lightspeed Venture Partners, Falcon Edge Capital, Matrix Partners India, Omidyar Network India and Orios Venture Partners.
Investment summary for April 2020
(*Excludes grant, debt and post IPO rounds)
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