According to a Inc42 Datalabs report, over $5.56 billion was invested across 452 Indian tech start-ups during the period January-June 2017. While in Q1 2017 about $1.46 billion was invested across 206 start-ups, Q2 witnessed 217 deals amounting to $4.1 billion in funding. Interestingly, in Q2 2017, most of the amount was contributed by Flipkart’s $1.4 billion funding in the month of April and Paytm’s $1.4 billion round led by Softbank Group in May.
There are many leading companies that merge as one in 2017. Flipkart-Snapdeal merger is yet to take place, and eBay selling its India business to Flipkart, Housing getting acquired by PropTiger among others.
2017 also witnessed the launch of several new funds, VCs raising India-specific funds to help start-ups. The Department of Industrial Policy and Promotion (DIPP) is asking the Finance Ministry to release an additional $247.7 million under the Fund of Funds for Start-ups (FFS) in FY ‘17-18.
With the coming of firms, individuals, investors and many funds for start-ups, India is expected to witness a boost in its economy.