Powered by Unacademy and upGrad’s mega deals, Indian startups raised $10.8 billion in the last two months

• A report by Tracxn says there were 256 deals in July and August 2021.
• Edtech startups cracked three of the top 10 deals in the last two months.
• Indian startups have raised $6.5 billion in the second quarter of 2021.

Indian tech startups have raised $10.8 billion in the last two months, a report by business intelligence firm Tracxn reported. The report further revealed that 256 deals were cracked in July and August 2021.

The Indian tech startup ecosystem had raised $6.5 billion across 412 deals in the April to June quarter of 2021. The ecosystem has raised $5.7 billion across 432 deals in the January to March quarter, the report added.

This means that even though fewer startups raised money in the first two months of the third quarter (July 1 to September 1), the funding amount increased significantly.

In August alone, Indian startups raised $3.2 billion across 115 rounds. Seventeen companies were acquired in the same month.

As usual, Bengaluru cracked the most number of deals.

Cities	Funding	Rounds
Bengaluru	$1.6 billion	43
Delhi NCR	$276 million	31
Gurugram	$161 million	17
Mumbai	$1.billion	13

Three out of top 10 deals were edtech

Edtech giant Eruditus had cracked the biggest deal of August, when it raised$4 led by Accel and SoftBank. The company was valued at $3.2 billion and turned out to be the fourth edtech unicorn — startup with over a billion dollar valuation — of India.

Ronnie Screwvala-led upGrad too entered the unicorn club, after raising$4 at a valuation of $1.2 billion. The company raised fresh funds from Temasek, IFC (International Finance Corporation, a sister organisation of World Bank) and IIFL.

Unacademy, which is the second edtech startup to enter the unicorn club, raised $440 million last month in a round from Mirae Asset and SoftBank. The company is now valued at $3.44 billion.

Byju’s continues to be the highest valued edtech startup in the world, at a valuation of$4.

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