2019 is certainly one of the best economic years for tech startups in India. There is still two months’ time to go in 2019 and according to the reports Indian tech startups are already having their best year as per reports into the local ecosystem since the dark funding environment of 2016.
According to TechCrunch, the unlisted number of startups in India has raised a capital amount of $11.3 billion this year. This year the startups have raised the largest sum for the local ecosystem than any year. The capital flow somewhere helps in the progression of the nation and definitely will bring India’s startup ecosystem to the next step of the success, perhaps being taken as a benchmark in the future. This achievement is regarded as one of the most progressive IT space in the world since the dark funding phase of 2016.
With this move, the appetite for equity of Investors is turning to the Indian marketplace and this step is clearly showing that the local ecosystem is maturing and more and more startups are focusing on building e-commerce solutions. Hopefully, in the upcoming years, there would be a lot of new job opportunities in almost every major industry that will make India a powerful country. In an interview with TechCrunch, Dev Khare, a partner at Lightspeed Venture noted that in 2014 and 2015, startups were basically focused on building e-commerce solutions and replicating the ideas of the western marketplace to boost the economic standards.
Dev Khare said that -“But today, they are tackling a wide range of categories and opportunities and building some solutions that have not been attempted in any other market,” he said. He also added that this change is to the attributes telecom operator Reliance Jio and some government efforts such as the introduction of GST taxation that has somewhere boosted the introduction of UPI payments infrastructure in the country.
In addition to the above, Khare said more people than before in India today are eager to work at a startup company. The Lightspeed’s internal research said that financing round went up to 70% in 2018. In the upcoming year, there are some other hopeful signals as well. This year’s financial statement is a considerable jump from last year.
This trend is hopefully going to continue for the next several years in an enhanced manner in startups. So far, the tech startups in India have participated in about 872 financing rounds in 2019, as compared to 924 in 2018, and 1,141 in 2017. For now, it is an enthralling spin for the nation, which just 10 years before had a very small ecosystem of the startup companies. Well, there is still some time to go, many startups are by now in a procedure of securing more rounds of investments this year which could significantly add to the overall funding numbers this year.
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