Investment into Indian VC-backed companies increased dramatically in Q2’15, as startups in the region raised $2.33B on 122 deals, five-quarter highs on both a deal and dollars basis. The funding boom in the latest quarter was largely driven by mega-rounds well over $100M in size, including the three largest deals going to Flipkart ($550M Series I), Olacabs ($400M Series E), and One97 Communications ($375M Corporate Minority).
Bangalore was the top city in India on both a deals and dollars basis for financing to VC-backed startups, as Bangalore-based companies (including Flipkart) raised $740.2M across 26 deals.
Mumbai was second, with 17 deals which raised a cumulative $605.6M, including mega-rounds to Olacabs and Quikr. New Delhi, Gurgaon, and Noida rounded out the top 5 for cities with the most activity.
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