India nurtures the third-largest startup culture in the world. The abundant workforce and extremely creative brains worked unanimously to pull India to achieve this rank. Magnification of infrastructure improved logistic services aid to prevail and grow the startup ecosystem. India has many untapped sectors that are on the edge to expand, innovate, invest, and grow. This year is quite fruitful for the startup industry as many startups were funded in 2020.
Nevertheless, the brutal pandemic interference created a void in the startup civilization of the world. India is no stranger to the situation. All leading economies of the world, like Japan, China, and the USA are facing adversities to build and invest in new startups due to the decline in the investing capacity of the country.
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These countries are severely affected but India’s hopes and aspirations were not defeated by the pandemic invasion. Business people strived hard to raise funds and investments for their companies in India. The 202o investments in Indian startups convey that our country is the future investment hub for people across the globe.
Let us study the leading startup funded in the year 2020.
The Mumbai based craft beer startup successfully raised $30m in April. Owners exercised a Series C round to raise funding for their venture. Sequoia India, Sixth-Sense venture from Mumbai, Korean Private Equity Fund – Neoplux were the investors of the company.
Ankur Jain started B9 Beverages in 2008 and imported beer from Europe and the USA to India. Furthermore, Bira91 was established in 2015 and has been growing ever since. The company sells beer made from barley, hops, and other ingredients. Bira 91 is the flag bearer of the switch from manufactured beer to crafted beer in India.
General Atlantic has invested about $50 million in No broker startup in the second quarter of 2019. However, in 2020 the company raised $30m from the same investors. Atlantic holds 30. 89% stakes and the company currently is valued $372 million ( Rs 2790 crores).
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No Broker is one of the startups funded in 2020. The online real estate search portal connects the owners and buyers without the middleman and saves the brokerage money for buyers and tenants. The company was largely applauded and accepted by Indian society after its launch in 2014. No Broker serves all the metropolitan cities and are venturing into different cities steadily. The company is famous for offering all kinds of real estate services..
The Bengaluru based health and fitness startup bagged an enormous amount of $120 million in funding in the year 2020. Kotak Mahindra, Unilever Ventures, Innoven capital, and Epiq Capital were the leading investors of the company.
Curefit was founded in 2014 and has raised almost $500m throughout its venture and the current valuation is $575 million. The company operated more than 150 fitness centers in leading cities of the country. They also cater to an international client-Dubai and plan to internationally grow in the coming years. It is a complete fitness and health program, CultFit. The supply of healthy food is also on the company’s future cards.
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Mumbai based makeup and fashion startup raised about $14m in the first quarter of the year. The current value of the company is $750m and races to be the next contender to enter the unicorn hub of startups. Nykaa raised funds from various angel investors like TPG Growth, Max Group, and Harish Mariwala in the past. On March 31, Steadview Capital announced an investment of Rs 100 crores ($14m) in the Indian-based startup – Nykaa.
Falguni Nayar in 2012 founded Nykaa. In no time the brand emerged as a great competitor for makeup lines in the country. The countrywide customer engagement, brand partnerships, and exclusive makeup line have helped gain trust from investors all across the country.
What is Facebook and Jio deal about?
A Facebook subsidiary, Jaadu Holdings LLC acquired a 9.99% stake in Jio amidst the pandemic lockdown. The decision came as a surprise for most of the Indians as Mukesh Ambani owned Jio accepted $5.7 billion deal. The agreement ensures the empowerment of small businesses in India. PM Narendra Modi also applauded the investment from Mark Zuckerberg, Facebook CEO. This is a historic moment for India and the startups’ culture.
The list of startups funded in 2020 is quite long despite the dejected coronavirus worldwide outbreak. India seems to continue to grow the startup front with the widespread development of all the industries and sectors. However, a large chunk of startups are facing severe problems in the phase of economic recession but graphs appear to improve in the forthcoming years.