Why you have to pay attention to the Indian startup scene - TechCrunch

Data shows that India’s venture capital scene has grown sharply in recent years.

In 2020, the third quarter brought the country’s venture capital scene back to form.

After a somewhat average start to the year, Indian startups saw their venture capital investment fall to just $1.5 billion in Q2, the lowest quarterly tally since 2016.

And in late August the company told TechCrunch that it was on track to reach $1 million annual recurring revenue (ARR) by the end of the year.

To get a better handle on the Indian startup market more broadly, The Exchange got ahold of Accel investors Arun Mathew (based in the United States), and Prayank Swaroop (based in India), for a bit of digging.

Mathew added that some high-profile successes like Flipkart made startups a more attractive option, with the ecommerce company’s success helping to “change the tenor” of the conversation around founding tech firms in recent years.

It also helps, Swaroop added, that seasoned folks from existing Indian tech companies are branching out and starting companies of their own, recycling knowledge into new, smaller companies.

And there’s more money being raised to help power new Indian tech companies.

All told, 2019 was a huge year for the Indian startup market in venture capital terms, and 2020’s recovery is underway.

venture capital scene in Q3, and here are our notes on the more global picture.