Latest News | Over USD 7 Bn Raised by Indian Start Ups in Q4 2021: Report
Get latest articles and stories on Latest News at LatestLY. More than USD 7 billion was raised by Indian start-ups during the fourth quarter of 2021, which was 18 per cent higher than the previous sequential quarter, according to a report.
New Delhi, Feb 10 (PTI) More than USD 7 billion was raised by Indian start-ups during the fourth quarter of 2021, which was 18 per cent higher than the previous sequential quarter, according to a report.
The report by NASSCOM and Praxis Global revealed that fintech and retail tech were the top sector in Q4 CY21 (calendar year 2021) cornering almost 46 per cent of the total funding.
Also Read | Adani Wilmar’s Market Capitalisation Crosses Rs 50,000 Crore.
As many as 14 new unicorns were added in the Indian tech start-up ecosystem in Q4 2021.
"6 out of 14 Unicorns added in Q4 CY21 are from retail tech and fintech sector," according to the report.
Also Read | Reliance Power Reports Rs 13.93 Crore Loss in December 2021 Quarter.
A startup with a valuation of over USD 1 billion is called unicorn. According to the report funding continued to be strong and steady, and about USD 7.2 billion funding was received in this quarter. This was 18 per cent higher on a quarter-on-quarter basis.
India continued to see strong acceleration both in the volume and the multiplicity of the startups in CY21, it said. The fourth quarter remained strong for startup ecosystem with historic 14 startups added to the unicorns list.
"FinTech gained further traction and remained favourite among global investors community," it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)