Bengaluru tops as the emerging city of India in attracting funding for ‘start-ups’

Bengaluru, October 31: Bengaluru topped to become the foremost city of India to attract funding in start-ups category. The following cities are Delhi-NCR, Mumbai, Hyderabad and Pune, the report entailed by Financial Express. 

As it continues to attract young professionals from all over the country, Bengaluru has emerged as the top city in India to attract funding in the start-up's category. The ‘Silicon City’ of India toppled Delhi-NCR, Mumbai, Hyderabad and Pune in harbouring the attention of investors, in the first nine months of 2017, reported Financial Express.

Start-ups in Bengaluru attracted USD 4.1 billion in funding which was constituted more than half the total investment of USD 7.8 billion raised by Indian start-ups in the first three quarters, according to data from research firm Tracxn.

The Delhi-NCR region has been a strong rival to Bengaluru with the rise of companies like Paytm, Snapdeal, MakeMyTrip, Zomato, Ibibo, MobiKwik and others, which are based out of the capital region. In the first nine months of 2016, the Delhi NCR region was the number one region in attracting USD 1.2 billion out of the total USD 3.3 billion of total start-up funding.

Bengaluru, which came second to Delhi-NCR region in 2016, climbed past the same on the heavy infusion of funding into companies such as Flipkart and Ola. The first nine months of 2017 saw a number of start-ups raise billion-dollar funds, starting with Flipkart, Ola and Paytm.