Indian AI Startups Raised $836.3 Million In 2020: AIMResearch

Despite the pandemic and the resulting lockdowns, the AI startups in India have attracted total funding of $836.3 million — the largest funding outlay in the last seven years at a 9.7%  year-on-year growth — last year, a report by AIMResearch, titled Indian AI Startup Funding in 2020, showed. The research also projects double-digit growth in the next 5-6 years, ushering in a period of consolidation and maturity of the Indian data science market. The number of startups that received funding in 2020 doubled from 2019, signalling the rising cachet of India’s data science startups, regardless of size and revenue stage. The research covered both pure-play data science startups and startups that leverage AI or Analytics or any other Deep Learning domain, such as Computer Vision or NLP, to develop a core solution/platform for enterprises/consumers across sectors or industries. The report details the year-on-year comparison of funding, location-wise distribution of startups, f