- India’s startups participated in 924 rounds to secure a record $10.5 billion in funding last year, slightly ahead of the $10.4 billion they raised (through 1,141 rounds) in 2017, and a major rebound from the alarming down cycle of 2016, when they raised just $4.3 billion, according to data from Tracxn, a firm that tracks startup funding.
- The funding rounds gained momentum in the second half of the year, giving India two new unicorns (private companies with a valuation of $1 billion or more).
- Paytm, which expanded its service to Canada last year, launched mobile payment service PayPay in Japan in a joint venture with SoftBank and Yahoo Japan.
- In the second half of December, food delivery startup Swiggy, which became a unicorn in mid-2018, secured a fresh $1 billion .
- Overall, Chinese investors participated in 43 funding rounds by Indian tech startups last year, up from 29 in 2017 and 25 in 2016, according to Tracxn.
Read full article: venturebeat.com