Sales tech start-ups in India are second to US in terms of funding
India was one of the largest markets outside the US for sales tech start-ups in 2016.
Funding for sales tech start-ups has been on the rise recently and India is second to the US in terms of funding.
Outside the US, countries such as Canada, India and UK witnessed the largest number of sales tech start-ups funded between 2012 and 2016, together representing 14% of all non-US start-ups, according to CB Insights.
Source: CB Insights
One of the biggest sales tech start-up deals was of India-based artificial intelligence enable customer engagement start-up, Active.ai which received $3 million in seed investment in Q4 2016.
India and the UK currently are tied up in second spot in terms of the number of funding deals received for sales tech start-ups. India received 4% of the deals globally.
Source: CB Insights
Currently non-US based sales tech start-ups have received 45% of the funding deals in 2016 from just 25% deals in 2012.
Some of the other notable deals in sales tech start-ups in other countries include UK-based customer intelligence start-up Artesian raising $8 million in Series B in Q4 2016 and Canadian-based customer communication management software start-up Prinova raising $17 million in equity investment in Q2 2016.
Source: CB Insights
However, sales tech start-up funding deals are still the maximum in the US, which gets 65% of total deals globally. Funding towards the US bases sales tech start-ups has however been declining gradually from 75% in 2012 to 55% in 2016.
While deal activity internationally is on the upswing, the US still accounts for the vast majority of funding dollars to the sales tech category, said the report.
Source: CB Insights
“Last year, international companies’ share actually dipped below 10%, after reaching a high of 21% in 2015. The decline in international dollar share last year is largely due to a few private equity mega-rounds in the US, including deals to American-based Infor ($2.5B) and Genesys Telecommuncations Laboratories ($900 million). Dollars to international sales tech startups still grew by over $28M between 2015 and 2016,” the report added.
Outside the US, Australian sales tech start-up Cyara received the highest funding of $25 million and China-based FXiaoKe start-up receiving $233 million.
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