Here are the top startups that raised funding in June
- Led by Reliance Jio with its slew of investments from top global players, India’s investment sector has been heating up.
- Edutech remained a hot sector as companies like Byju’s, Unacademy, Toppr continued to see a hike in the number of users on their platform.
- In June, Byju’s turned into a decacorn (startup with over $10 billion valuation) to become India’s second highest valued startup at $10.5 billion.
Here are the top startup fundraisings in June according to data intelligence firm Tracxn.
|Company Name||Total Funding Received in June 2020 ($M)|
Edutech remained a hot sector as companies like Byju’s, Unacademy, Toppr continued to see a hike in the number of users on their platform. Byju’s turned into a decacorn (startup with over $10 billion valuation) to become India’s second highest valued startup at $10.5 billion.
Byju’s raised an undisclosed amount of funding from BOND – the global technology investment firm. This is BOND’s first investment in India. Globally, BOND has invested in companies like Facebook, AirBnB, DoorDash, Slack, Uber, Pinterest and many more. In March and April, BYJU’s added 13.5 million consumers. It was the first to announce that its content would be available for free for all as schools and colleges were shut.
Even in a challenging environment, edtech is expected to remain a very hot sector of VC investment, said a KPMG report.
Another sector that saw investments coming in is the fintech segment. Aye Finance, the lending startup for micro, small and medium enterprises, raised ₹210 crore from CapitalG – Alphabet’s growth fund.
“Difficult times are a true test of a good lender and we have already started showing significant improvements in the customer repayments in the past months. Our loans are underwritten with cluster insights and this continues to assure good repayment behavior in our portfolio,” said Sanjay Sharma, Managing Director, Aye Finance about the funding.
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