2020 in review: State of startup funding, OTT's wild ride, and more
Indian startups raised a total disclosed funding of $8.4 billion between January 2020 and mid-November 2020. This was a 30 percent decline as compared to the funding raised by startups in 2019. In terms of the number of deals, Indian startups registered a total of 765 deals in the period between January 2020 and November 15, 2020. This is a 14.5 percent decline as compared to the previous year.
OTT had been the fastest-growing segment of India’s media and entertainment sector for the past two years. But 2020 brought about its demonetisation moment, with online streaming becoming the only stay-at-home entertainment option. From releasing original shows at an unprecedented rate to acquiring top licensed content, including Bollywood premiers setting off the direct-to-digital trend, and customising content for a widening demographic — OTT platforms left no stone unturned to woo audiences.
Despite COVID-19, fintech giant Paytm hit new and significant milestones in its pursuit of financial inclusion for a billion Indians. What drove this kind of concerted effort that ultimately helped Paytm pull off the growth it did in 2020 was keeping a steady finger on the pulse of evolving consumer needs and demands, and meeting those demands in the simplest, easiest way possible while keeping its financial inclusion aim in its line of sight.
Last but not least, Alia Bhat has now turned an entrepreneur by launching Ed-a-mamma, a sustainable children’s wear brand. In a conversation with YourStory, the actor, investor, philanthropist, and now a startup founder, talks about starting up, being a storyteller, and more.
In four years, cloud kitchen Goila Butter Chicken has served 300,000 portions of iconic Indian dishes. Now, it is going global.
Pankaj Garg launched DailyObjects in 2012. Today, it manufactures and sells a variety of mobile cases, laptop holders, and bags.
Edtech startup NinthSem enables engineers to learn the latest industry-specific skills to become suitable for new-age jobs.
Cosmin Nicolaescu, CTO of Brex, has previously helped build Azure and Office 365 at Microsoft, and the fintech systems at Stripe.
Mafias and second time entrepreneurs are creating a flywheel of increased mentorship, investment opportunities, and validation.
Women farmers, as part of PRADAN and Corteva Agriscience's initiative, are promoting sustainable agriculture and financial literacy in Jharkhand.
Mumbai-based Upside AI was started with a belief that technology should be at the core of fundamental investing decisions.
Quote of the day:
“Don’t wait too long to reinvent. You need good leadership to be maniacal, relentless, and tenacious about the product and you have to challenge people to get to the truth. To reinvent and change, you need to have the courage. Better experience for customers will always win.”
— Andy Jassy, CEO, Amazon Web Services