India’s startup capital Bengaluru has been ranked as the world’s fastest-growing tech hub, according to data from Amsterdam-based Dealroom.co, analysed by London and Partners, the international trade and investment agency for the mayor of London.
The data reveals that investment in the Karnataka capital of Bengaluru grew 5.4x in terms of funding in the past five years, with Mumbai in second place. Bengaluru outpaced London in terms of investment growth, the report said, as per PTI.
There’s little doubt that Bengaluru is India’s premier startup hub as seen in the latest Inc42 Plus report. In terms of Indian startup funding, Bengaluru understandably ranks at the top commanding 30-40% share of the total funding between 2014 and 2020. Bengaluru, Delhi-NCR and Mumbai together make up 83% of the total funding deals for Indian startups during the period.
Bengaluru also topped the list of Indian startup hubs in terms of the amount of seed funding as well as the deal count. Startups based in the city accounted for 33% of all seed funding deals for Indian startups between 2014-20.
Overall, Bengaluru startups saw total funding worth $24 Mn across 1,700 funding deals during this period.
“It’s fantastic to see that Bengaluru and London ranked as the top two fastest-growing global tech hubs for VC investment. Our two great cities share mutual strengths in entrepreneurship and innovation – creating lots of opportunities for tech investors and companies to do business across both regions,” said Hemin Bharucha, chief representative of India at London & Partners.
Moreover, in global rankings for tech venture capitalist investments, Bengaluru ranked sixth in a list topped by Beijing, with San Francisco, New York, Shanghai and London making up the top five. Mumbai came in at the 21st spot in this ranking.
Beyond Bengaluru, Delhi NCR and Mumbai, among the startup hubs in India, Chennai has seen the most number of deals in the past four years with 220 funding rounds among 145 startups as per our exclusive analysis. The southern Indian city is followed by Pune, Hyderabad and other cities.