Chennai, or the SaaS capital of India, is fast becoming one of India’s key startup hubs.

Between January and June 2021, Chennai attained the 6th spot among the eight Tier-I cities in terms of number of deals (17), as well as amount of funding ($73.8 million) raised, data by YourStory Research reveals.

Chennai, or the SaaS capital of India, is fast becoming one of India’s key startup hubs. Between January and June 2021, Chennai attained the 6th spot among the eight Tier-I cities in terms of number of deals (17), as well as amount of funding ($73.8 million) raised, data by YourStory Research reveals.

Chennai startup ecosystemChennai startup ecosystem

Amid the pandemic, investors have also been testing waters in different niche sectors, giving rise to the number of early-stage deals.

According to Rohini Prakash, Founder, Tomorrow Capital, one of the primary reasons is the Tamil Nadu government’s aggressive promotion of the rising startup ecosystem through the presence of a large number of Special Economic Zones (SEZ) in Chennai and business and trade laws that offer a competitive and hassle-free environment for startups and new businesses.

Source: https://yourstory.com/2021/07/12-early-stage-startups-signalling-chennais-rise-startup-hub/amp

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