Indian internet startups have raised over $20 billion from global investors this year, shattering the previous record of $13 billion that was raised in 2019. With low interest rates in the US, an expanding online consumer base, startups filing for IPOs with record openings and a crackdown on tech companies in China has all contributed to India becoming the preferred investment destination this past year.
Indian companies raised $20.2 billion across 576 deals, surpassing the $13 billion from 878 deals in 2019, according to Venture Intelligence. The average deal size, too, more than doubled to $35 million this year, indicating the willingness of investors to take more risks on fledgling startups in their pursuit of the next multi-billion dollar outcome. The $20 billion figure was breached when manufacturing startup Zetwerk raised $120 million from investors.