Startups in India see 108% growth in funding, receive $4.2 billion in 2018, says NASSCOM
The startups in India saw a 108 per cent growth in total funding from USD two billion in 2017 to USD 4.2 billion this year, National Association of
Software and Services Companies said Thursday. The worrying factor, however, was the decline in funding for companies at the seed stage, NASSCOM said.
“India is becoming a startup hub. Opportunity for growth is enormous, which we had never seen in our lifetime. Challenge is how fast a company wants
to transform,” NASSCOM president Debjani Ghosh said. She was speaking to reporters at the launch of NASSCOM report on the ‘Indian start-up
ecosystem – approaching escapevelocity’ on the sidelines of the 15th anniversary edition ofNASSCOM’s Product Enclave-2018 in the city. More than
1,200 startups came up in 2018, including eight unicorns, taking the total number to 7,200 startups, NASSCOM reported.
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