Startup funding down 29% in first half of 2020 amid Covid-19 crisis: Tracxn

Startup funding activity decreased by 29 per cent in the first six month of this year to $4.2 billion compared to $5.9 billion in the same period last year, due to the impact created by the coronavirus pandemic, according to data analytics firm Tracxn. Only 443 companies were funded in the January-June period this year against 725 in H1, 2019, according to ‘India Tech Semi-Annual Factsheet’, compiled by Tracxn.

In the same period, three unicorns or startups valued at more than $1 billion (each) emerged compared to six last year. These were kids and baby products online retailer FirstCry, fintech