Startup funding plunged by 29% in first half of 2020 due to Coronavirus
Image Credit: Shortpedia
The coronavirus outbreak has affected the Indian startup ecosystem badly, with the lockdown and closing of markets resulting in job cuts and losses. According to Tracxn's India-Tech Semi-Annual Fact Sheet, the startup funding fell by 29% from $5.9 billion in 2019 to $4.2 billion this year, making it the worst half in the last 3 years. In 2020, one of every three dollars went to Byju, Zomato and First Cry.