According to data released on Thursday by GlobalData, 128 Indian firms raised over $995 million (or around Rs 8,000 crore) in venture capital financing in August. The statistics and analytics business reported that the amount of money raised in August was 9.7% more than it was the month before.
Aurojyoti Bose, the Lead Analyst at GlobalData, said: “Although the total VC funding amount still remains below USD 1 billion akin to July, August managed to reverse the decline in fundraising, despite a 2.3 per cent fall in deal volume.”
The expansion coincided with a drop in fundraising in other significant international areas including the US and UK. “China and India were the two notable exceptions to this trend,” Bose said.
According to the research of GlobalData’s Financial Agreements Database, India announced 1,239 venture capital investment deals from January to August 2022, whereas the declared funding value during the same period last year was USD 17.7 billion.
Bose claimed that despite the nation’s economic unpredictability, some Indian entrepreneurs were able to win over investors. “As the cyclical phenomenon of the funding winter suggests, India witnessed a slight month-on-month improvement in VC fundraising in August.”
