Investors continue to support consumer internet companies

Notwithstanding the disruption caused by the pandemic, Indian consumer internet companies continued to win the support of investors in 2020, raising a little over $8 billion, data sourced from market research firm Tracxn showed.

Companies had attracted investments worth about $11.21 billion in 2019.

The food-tech and ed-tech segments were the clear winners, as demand from home-bound consumers soared, cornering bulk of the investments. Zomato closed a $660-million financing round backed by 10 new investors at a post-money valuation of $3.9 billion while rival Swiggy raked in about $156 million in two tranches.

Ed-tech player Byju’s alone secured more than $1 billion from investors; Unacademy, Eruditus and Vedantu collectively bagged over $500 million in funding.