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India is still a developing economy, and in order to bridge that gap between developing and developed, India still has a lot of sectors to work on like health, finance, defence etc. And, the one sector which can really help in making all these sectors progress is the tech sector.

The Indian startup industry has witnessed a lot of investment activity happening in the tech sector in the last couple of years. In fact, the year 2016 saw a record number of deals taking place in the tech space. While 2017 might not be going that well when it comes to the deal pace, but the funding is advancing in a celebratory trajectory and is currently witnessing more than triple the deals that took place last year.

According to a CB Insights report, early-stage investors are currently the most active in the tech space in India, with Mumbai-based Blume Ventures right at the top of the ladder.

The report, which took into account investments that took place in the Indian tech startups from 2012 to 2017, ranked the Mumbai VC firm as the leading tech investor on the basis of the investments it made in 76 companies. The VC, which is known for participating in seed or pre-Series A stages, typically invests a sum of anywhere between $100,000 to $500,000 in each of the startups that it adds to its portfolio. One of the most popular startup in its folio is TaxiForSure, which later got acquired by Ola in a deal worth a whopping $200 million.

According to the CB Insights report, the biggest round that the VC participated in was a $30-million Series B round two years ago in 2015. It was raised by warehouse automation systems provider Grey Orange Robotics.

The report further divulged that Angel groups were some of the most active investors in the Indian tech startup sector, with Indian Angel Network (IAN) coming in at the second place by making investments in 64 companies. Partners India and Sequoia Capital India took the third place together on the list by investing in 55 startups each.

A close look on the list reveals that off the ten most active investors, two of the firms were of foreign origin. They were: New York-based hedge fund Tiger Global Management and Hong Kong headquartered SAIF Partners. While Tiger invested in 36 companies, SAIF invested in 35.

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