TECH BYTES – Monthly Tech Industry Bulletin – October 2020

This monthly industry bulletin is our endeavor to aggregate and feature on a regular basis, key trends and insights shaping the technology sector. The information covered here is collated from publicly available sources and gives a bird’s eye view of what has happened in the technology sector during a particular month.

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Key Findings

Large deal wins were seen for top and mid-tier firms alike. Some of the key deals were focused on market expansions and building innovation partnerships and collaborations. 75 M&A deals signed during Jan-Sep 2020, valued at over US$1bn (excluding Jio Platforms (Reliance Industries)).

Total funds raised in September 2020 reached US$1.8 bn, Education and eCommerce accounted for 78% of the total for the month. Funds raised during January to September 2020 reached US$6.3bn, higher than the US$5.8bn during the same period in 2019.

RPA and industrial automation adoption is rising, yielding new digital transformation opportunities. Despite manufacturing slowdown, industrial automation will still grow by 4% from 2019

Digital payments, LendingTech and InsurTech have become new pivots, and digital banking - branchless, mobile banking, and neobanking are growing at fastest rates. UPI recorded highest transactions in September 2020 as compared to any other month since its launch

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