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investment sizing report

Jan 2020 - India

ML | Investment Sizing Report 
release date - Feb 05, 2020

$3205.2  million



249 founders

413 investors

58 purposes


women only founding teams


mixed gender founding teams


men only founding teams

the week on week deals heatmap for January 2020 - India

men only founding teams dominate the scene by a wide margin when compared to mixed gender or women only founding teams

Jan2020-investment heatmap.png

interpreting the heat map

  • data is grouped by week number of 2020 (when deal was reported)

  • map is categorised by gender of the founder/founding team

  • size of the square represents total number of deals reported during the week

  • colour represents total funding volume - all deals combined during the week

  • deal volume represents sum of all deals reported during the week

  • the legend depicts the outer limit of the range of (deal volume  in million USD)

Jan Funding Heatmap

$3. 2 billion  raised by 124 firms with 58 disclosed purposes with deal size varying between $0.013M to $450MDeal details are presented in the dataset below, followed by insights generated through close examination of each deal

deals of the month

deals transacted in the Indian startup ecosystem overJanuary 2020

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deals by founder(s)' gender

 a drop in the ocean

The total deal volume (tracked disclosed deals) in India was 3205.2 million USD

enterprises led by only women founders received 0.07% share of this while combination of women and men founding teams received 10.7% of funds while startups led by men only dominated the funding with 89.2% of all funding.  

no. of deals closed in the Indian startu
funding volume ($M) in the Indian startu
average age of firms that raised funds i

startups led by women only founders were on an average older than startups led by men only  or mixed gender founding teams

age of firms

Funding Rounds

  • early stage financing dominated the number of deals with 35 deals in the angel/seed/pre seed stages followed by pre Series A & Series A stages at 8 and 14 deals respectively

  • enterprises led by women only founding teams were represented apart from the debt financing round (which is usually expected) also in the very early stage financing rounds.

  • mixed gender founding teams were part of deals across most stages except in disproportionately smaller numbers, though significantly higher than women only founding teams

  • a total of 124 deals were tracked by myrna labs for the month of January 2020 in India

funding round Vs founder(s) gender (Jan
funding rounds

Cities that grossed the lion share of funding in January 2020

top cities
  • the top five cities grossed 87% of the funding with Bangalore alone grossing almost 46% of all funding 

  • Mixed gender founding team were represented in Gurugram and Bangalore while women only founding team was represented only in New Delhi.

  • Of the total funding attracted by Bangalore only 19.2% went to mixed gender foundnig teams while the rest went to men led startups

top cities by funding volume attracted b

deal size comparison by gender of founders

largest deal size by gender of founding
minimum deal size by gender of founding
deal size - high & low

the (disclosed) purpose behind the fundraise

  • At least 40 deals were transacted to help startups expand in the Indian market - the highest number of deals against a particular purpose recorded in Jan 2020

  • With 37 deals, product/platform development was a close second

  • Expansion in existing international locations featured in only one deal (with a women only founding team)

  • Hiring new talent featured in 23 deals, especially around sales/marrketing talent. 7 deals were identified that specifically aimed at ramping up STEM talent with representation of all three founding team gender combinations. 

  • 29 of the total 58 purpose tags that featured across deals in India in January 2020,  were exclusively used by men led firms. International expansion, driving profitability targets, cutting down losses  to funding future capital requirements featured prominently across these deals

Purpose Tags
founders & investors

investors & founders 

male founders outnumber mixed gender founding teams while women only founding teams remain a minority

413 investors (disclosed) & 249 founders were part of the deals reported in Jan 2020 

founders_cofounders who raised funds in
investors who participated in deals in J


ML - Investment Sizing Report - Monthly

  • this monthly report includes disclosed deals reported during the course of Jan 01 - Jan 31, 2020

  • all reported funding rounds are accounted. Rounds that were not specifically attrinuted to a stage is classifed under Not Attributed. If our analytics indicated the possibility of this being a PE round, the same has been accounted for in PE round

  • funds received from corporate (parent) has also been included 

  • India deals includes mainly investments in Indian startups (some of them operate with two HQs - one in India and the other in a different country, usually the other country is USA); the data can also include (rarely) investtments made in firms with HQ in other countries but with India as a key existing or potential market or if the funds raised were specifically to expand presence in India

  • the analysis includes deals that have been reported and amounts that have been disclosed and/or gathered by myrna labs directly through a wide variety of sources which includes corporate website and press releases, regulatory filings, media reports and other online and offline sources.

  • additional insights generated during the period  - for instance gender intelligence on investors involved in the transactions of Jan 2020, is shared with clients only

  • the purpose tag whenever mentioned against an acquisition/merger refers to the purpose of the acquirer and not the acquired. For all other deal types, the purpose tags refers to the purpose of the fund recipient.

Disclaimer : The information in this report is issued by myrna labs and is intended for information and discussion and is not intended, and should neither be interpreted as investment advice nor an offer to acquire units in any firm.

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