The Indian Start-ups witnessed the same amount of funding in August compared to that in July, according to a report by INC42. As per the report, the Indian start-ups witnessed funding of $1.1 billion in the eighth month of the year. 

Notably, the start-up funding has been the highest in June this year, with July being the worst month over the last 17 months for funding for Indian start-ups. In July, the Indian start-ups registered only 127 deals, whereas the number of start-up deals decreased by 20.4 per cent to 101 in August. 

Compared to July, only three mega deals were registered in August namely upGrad raising another round of $210 million, Early Salary raising $110 million and CleverTap raising $105 million. 

The report says that on a year-on-year (YoY) basis, the late-stage funding witnessed an 84 per cent decline, whereas 52 per cent decline in the number of late-stage deals. Meanwhile, August witnessed a decline of 73 per cent in start-up funding amount and a decline of 32 per cent in the number of deals, compared to the same period last year. 

Moreover, in August Mumbai surpassed Bengaluru in terms of total venture capital inflow, with start-ups raising funds worth $585 million. However, Bengaluru continued to emerge as the leader in hatching start-up deals with 35 deals on board in August. 

On a sectoral basis, maximum start-up deals were registered in the fintech sector in August, with the funds raised accounting for $1.1 billion. This was followed by deals in enterprisetech and edtech sector.