India, the globe’s second most populous country, has quickly become one of the most well-funded in the venture capital world. Since the beginning of 2014, over 1,000 VC deals have been made in India, with about 850 companies grabbing some of the $10.9 billion in total that has been invested, according to the PitchBook Platform. This year has already seen 517 deals in the country raise $5.73 billion, as well as five companies raise rounds with a valuation above $1 billion (two for the first time).
The tech space continues to be the backbone of growth, as more and more of India’s population gains access to the internet—currently estimated at around 28% (of about 350 million people). 42% of all VC deals over the past two years have been in the IT industry.
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Ecommerce alone is booming. It’s where the two India-based companies that have raised the most venture capital—Flipkart and Snapdeal—operate; together, they are currently valued at roughly $20 billion. And the potential for growth in the ecommerce industry hasn’t been missed by public giants either, as Amazon has pledged to invest $2 billion into the growth of its platform in India and some are suggesting that Alibaba could make a play at the market in the near future.
Here are the five India-based companies that have raised the most venture capital to date (PitchBook Platform users can click here or on the table below to access the raw data):