Indian startups have raised $11.3B this year so far

There are still two months to go in 2019 and the news is, Indian technology startups are having a ball of their life. 2019 is the best year ever, a record amount of capital has been raised in their tech echo system so far, providing hundreds of thousands of new job opportunities in different cities.

According to a TechCrunch report, Tech startups in India have raised a record $11.3 billion so far this year.

The capital flow helps in progressing India’s startup ecosystem to the next ladder of the step, perhaps being taken as a benchmark in the future, as one of the most progressive IT space in the world, Traxxn reports.

Startups such as financial services have reportedly attracted the most of venture capital this year, the amount is said to be $8.2 billion, according to Tracxn. After financial services, retail startups have attracted about $2.3 billion and then enterprise services with $1.5 billion.

Investors turning to the Indian market clearly shows their local ecosystem is maturing and with more startups focusing on building e-commerce solutions, there would be many new job opportunities in almost every major sector that will empower Indian people.

A lot of avenues, opportunities are created with the arrival of the telecom operator “Reliance Jio“. With some Government efforts such as the introduction of the GST taxation system and UPS payments infrastructure, the telecom giant has disrupted the market with low-cost mobile data.

The grown number of smartphone users and subscribers were able to use the internet for the very first time.

It is also reported that, financial services firm Paytm, which has raised more than $2 billion. It has more than 200 million registered users in India.

With two months still to go, many startups are already in a process of securing more rounds of investments which could substantially increase the overall funding numbers this year.

The post originally appeared on TechCrunch

Written by Hisham Sarwar

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