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Behind the funding surge in Internet companies

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In just three months so far this year, Indian startups have raised about $4 billion compared with $9.5 billion in all of 2020.

  • The unexpected injection of cash is drawing comparisons with the dotcom boom-and-bust with investors admitting most valuations don’t look sustainable

BENGALURU: Venture capitalists and technology entrepreneurs are usually the most implacable critics of government intervention in the economy. That hasn’t stopped them from being eager beneficiaries of the unprecedented fiscal spending that countries across the world led by the US have undertaken to prop up their economies during the pandemic.

This injection of cash has transformed what looked certain to be a funding winter for internet companies last year into a bumper period that investors say could continue through the end of 2021.

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