Tracxn report said alternative lending and test preparation tech were the most popular business models(BMs) of H1 2020. These generated the most interest, as indicated by the funding that went into them, accompanied by the percentage change in funding when compared to H1 2019.
Byju’s, Unacademy and Vedantu received most of the funding in the test preparation technology space. This area saw a major spike in funding with companies
in this space raising a total of $666.2 million, up 538 per cent, according to Tracxn.
Byju’s recently crossed $10.5 billion valuation after raising new funding of less than $100 million from Silicon Valley investor and analyst Mary Meeker's Bond Capital. It is rapidly narrowing the gap to become the most valuable startup in the country after digital payments firms Paytm, which is valued at around $16 billion.
In the lending space, companies such as Navi, Lendingkart and InCred attracted most of the funding. In this area, companies raised a total of $704.5 million, up 67 per cent, according to Tracxn.
Some of the key acquisitions that took place in the first half of this year included the purchase of digital credit firm Paysense by fintech firm PayU for $185 million and the acquisition of delivery firm Daily Ninja by online grocery firm Bigbasket.
Sequoia Capital and Accel were the top VCs, while Steadview Capital and FMO were the top PEs in H1'20, according to Tracxn. This week Silicon Valley-based venture capital firm Sequoia said it has raised $1.35 billion to invest in firms in India and Southeast Asia.