According to a report from TechCrunch, Andreessen Horowitz, one of the major players in the venture capital industry, intends to invest $500 million in the country’s thriving startup ecosystem.
With its large, web-savvy populace, India has witnessed a surge in investor interest in its enterprises. India is estimated to have 127 million Internet users, which constitutes nearly 17 percent of the world’s population.
The country has the third-largest number of Internet users in the world, after China, and the third-largest Internet user base in the world, after the United States and China. According to a report by the Internet and Mobile Association of India (IAMAI), India’s startup ecosystem is expected to grow to $100 billion by 2020.
According to PitchBook statistics, venture capitalists invested $23.5 billion in Indian startups in 2021. Thus, generating 17 unicorns valued at around $1 billion. Of that, a total of $587.16 million was invested in crypto and Web 3 startups.
This value is significantly higher compared to the $37 million invested in the previous year (2020).
India is regarded as a growing market with several investment opportunities.
Andreessen Horowitz led a funding round for the Bengaluru-based cryptocurrency exchange CoinSwitch Kuber in 2020.
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