Indian tech startup base saw nearly 10% growth in 2020: Nasscom

New Delhi:  With over 1,600 tech start-ups and a record number of 12 additional unicorns added in 2020 — the highest ever in a single calendar year — the Indian tech start-up base witnessed a steady growth at a scale of 8-10 per cent (year-on-year), Nasscom said on Thursday.
Nearly 14 per cent of total investments in 2020 were in deep-tech start-ups, up from 11 per cent in 2019.
Further, 87 per cent of all deep-tech investments were in AI/ML start-ups, according to the annual report by Nasscom in partnership with global management and strategy consulting firm Zinnov.
“With the continued addition of new start-ups, booming unicorns and increased adoption of deep-tech, the ecosystem shows an even more promising future,” said Debjani Ghosh, President, Nasscom.
Despite a lower number of total start-up deals in 2020, seed-stage investments are recovering at a good pace as investor activity at lower ticket sizes has increased, the report mentioned.
Seed-stage funding in 2020 recovered to more than 90 per cent of 2019 levels.