17%: Decline in venture capital (VC) investments in January-September 2020 when compared with the same period a year earlier – from $7.9 billion to $6.5 billion.
- The funding was led by the education, real estate and fintech sectors, which accounted for $1.76 billion, $754 million, and $730 million of the funds raised, respectively.
- In the education sector, Byju’s Classes has topped the table in 2020 with a fundraising of nearly $1 billion in four tranches from various investors, including TPG Capital, Tiger Global, ChrysCapital, Silver Lake, Owl Ventures, Sands Capital, General Atlantic, and others.
- Oyo Rooms raised $507 million from SoftBank. Unacademy raised raised $153 million from SoftBank, IIFL VC, Nexus Venture Partners, Sequoia Capital India, and others.
- TPG Capital, Tiger Global and ChrysCapital, among others, have invested $225 million in Dream11.com, according to Venture Intelligence Data.
- Investors say investment activity will increase in the coming months because Covid-19 has opened several new and first-time opportunities for startups as consumer habits are changing.
A few links for further reading
Insecure and uncertain in insurance business as Covid-18 damage claims mount
Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains
There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan
Quick approval, grace period
The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.