New Delhi and Bengaluru had among the highest number of startup investment rounds greater than $100 million since 2014. Bengaluru had 21 and New Delhi 18, according to a report by US venture capital and startup database CB Insights.
The report shows that each of the Indian cities had about the same number as London (19), and significantly higher numbers than Boston (13) and Tel Aviv (2).
Silicon Valley (158), Beijing (128), Shanghai (58) and New York (40) dominated these mega-rounds. Some of the big-ticket deals in India included those to Flipkart, Ola and Paytm, and to those like online grocer Bigbasket ($300 million in series-E funding led by Alibaba) and Swiggy’s $100-million fund-raise led by the South African internet and media giant Naspers. The big acceleration for Indian companies came from Japanese internet giant SoftBank that has invested more than $7 billion in the Indian .
The report said the Japanese company’s portfolio includes more than 65 companies in the Asian hubs, showing how a single investor has propelled the rise of tech in Asia, particularly China and South Korea.