Over 100 Companies in India Raised Series A Funding for Startups in the Past Year: Data

The top three sectors receiving the most Series A funding are software, information technology and artificial intelligence.

Over 100 Companies in India Raised Series A Funding for Startups in the Past Year: Data

Photo Credit: Unsplash/ Damir Spanic

US led Series A fundings with 1,200 companies

Highlights
  • India ranked third worldwide with 109 companies in total
  • The United Kingdom ranked second with 225 companies
  • US led the list with 1,200 companies

Drake Dukes, the co-founder of Launch Gravity — a data research and analytics firm — and his team have put together a list of 5,000 company founders who have received a Series A funding within last year. Interestingly, India is placed third in the list. The list is topped by the US with 1,200 companies receiving Series A funding within the past year, followed by the UK (225 companies) and India (109 companies). Dukes tweeted that he was willing to share the list with everyone in an attempt to “liberate the data” from the grip of some firms.

According to Dukes, the top three sectors receiving the most Series A funding are software, information technology, and artificial intelligence (AI). The notable entrants in this list are e-commerce at 12th position, blockchain at 21st position, and cybersecurity too is getting some attention at the 30th position.

Here's the breakout country-wise:

He said a company usually took a little over four years from its founding to get a Series A funding, the first venture capital funding for a startup, and the average total funding amount has been around $20.7 million (roughly Rs. 153.53 crores).

Also, a large number of Series A founders have prior experience of working at top tech or financial companies. Most founders have worked at Google, Microsoft, McKinsey, and Goldman Sachs.

Dukes, a former Fortune 500 consultant-turned-internet entrepreneur, said the Series A companies have got a budget and they are “hiring like crazy.” In case anyone wants to connect with them, he has offered to share the founders' emails and their Twitter handles.

His company, Gravity, describes itself as a firm that helps “you make sense out of data.” It says the team members are passionate data, sales, and marketing professionals who love to design, code, and explore the boundaries of technology and creativity.

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