Startup funding down 29% in first half of 2020 amid Covid-19 crisis: Tracxn

Startup funding activity decreased by 29 per cent in the first six month of this year to $4.2 billion compared to $5.9 billion in the same period last year, due to the impact created by the coronavirus pandemic, according to data analytics firm Tracxn. Only 443 companies were funded in the January-June period this year against 725 in H1, 2019, according to ‘India Tech Semi-Annual Factsheet’, compiled by Tracxn.

In the same period, three unicorns or startups valued at more than $1 billion (each) emerged compared to six last year. These were kids and baby products online retailer FirstCry, fintech company Pine Labs and online beauty and wellness retailer Nykaa. Also, there were 17 soonicorns or companies which hold the potential to become a unicorn in the near future against 28 last year.