A KPMG report has revealed that Venture Capital (VC) funding doubled with USD 2.5 billion in the third quarter of 2018 as compared to the previous quarter.
The spike is driven by USD 1 billion funding of hotel booking startup OYO. The report finds out that the bulk of VC funds raised by Indian technology startups in the third quarter came from mega rounds of USD 100 million or more.
The report said that the Indian figures buck the trend of strong investments in Asia, which returned to stable investment levels in the third quarter after a record second quarter led primarily by China’s Ant Financial’s USD 14 billion fund-raise.
Nine of the top 10 deals in the Asia-Pacific region in the third quarter came from China, with India’s Oyo being the only non-Chinese company in the list. Globally, VC-backed companies raised USD 52 billion across 3,045 deals, with North and South America accounting for more than half, or USD 28.9 billion across 2,056 deals.