For a couple of months, India is fighting against the second wave of coronavirus which has forced many businesses to shut down amid the risk of infection. It has also affected the many Indian startups from operating and raising money. Besides the pandemic, it has never stopped investors from investing in startups. The country has made good progress in the recent year in digitalization.
In addition to this, after the huge foreign investment, it has increased internet users by 687 million in 2020 which is 138 million more than 2019. However, the government aims to provide internet access to 90% of its population by 2030. So, if it takes similar growth in the coming year then they can easily achieve this goal. This has made India one of the largest internet markets in the world.
The internet penetration across the country is the reason behind the rise the so many startups in the country. A startup like PayTm, Byjus and few more such startup has already named themselves in Unicorn list. It has attracted the eyes of many investors across the world. So, they are pouring millions to $100 million dollars even in the early stage of startups. According to a report, more than 80 startups are on the way to raise money for the startup. This has also encouraged many youths to start their own startup in the country.
India’s one of the popular investment firms “Sequoia Capital” which has already talked with more than 2 dozens of startups for early investing. Startups like Register Book, Vah Vah, BambooBox, and MailModo are some of the popular startups that have already talked with “Sequoia Capital” To raise money. Besides this, the firm has also talked with another venture fund Nexus to invest in these startups.
Domkundwar is an early investor in the firms that have already helped more than 140 startups in raising money. According to him, the early-stage startup has never been this fiery. He also added that these startups are able to raise money so fast than ever before. Apart from this, the startups are also making good progress in the market.
Whereas, in 2019 alone more than 14 startups set their place in Unicorn List. Investors like Falcon Edge, Tiger global, and a few more high-profile investors have seeing India as their next investment opportunity. While some have already established themselves on the unicorn list and some are even making their bet to the public market. So, very soon we could see a lot of big startups aside US and China.