Numbers always look better after they pass through Excel’s dexterous tools. The 2011 Indian Startup funding news digest went through the drill and the preliminary results are out. Not so surprisingly, E-Commerce won the battle fair and square, both in terms of sheer numbers and volume. E-Commerce brought in 118 million USD worth funding cumulatively and only 11 startups have contributed to this number as the amount hasn’t been disclosed for some of the deals.
In all, India saw close to 600 million USD worth of funding which was disclosed. The average funding comes out to 9.72 million USD and the median amount is 5 million USD. Companies like FashionandYou, Happiest Minds and SnapDeal stole the show with more than 120 million worth of funding among the three. E-commerce was followed by IT in both volumes and numbers. Without muddling this up with more text and numbers, here are the graphics:
Total funding: USD 573.9 million
Startups contributing to this number: 59 (amount not disclosed in other 25 instances)
Average funding: 9.72 millions
Assumption: 1 USD has been equated to 50 INR for all conversions.
An interesting stat is the healthy number of startups being funded in the Education Sector. This is definitely a good sign for the future. Expecting E-commerce to hold on to the momentum it has gained, Education and Mobile look like the sectors that would be riding high in 2012.
Time will definitely tell but till then, we can obviously fight it out in the comments section.
- Jubin Mehta