Although the general cryptocurrency policy in India is not very friendly, the number of supported startups related to the crypto industry and Web 3.0 is rising. According to PitchBook, $23.5 billion was invested in Indian startups in 2021, of which exactly $587.16 million was invested in the crypto industry and Web 3.0 startups. India, with its large population that is slowly but surely experiencing a sharp increase in people using the Internet, is also experiencing a large number of new startups.
According to a report from TechCrunch and referring to people familiar with the subject, Andreessen Horowitz, one of the dominant venture capital companies based in Silicon Valley, California, reportedly plans to invest $500 million in the country’s growing startup ecosystem. The company does not comment on the report, but co-founder and general partner Marc Andreessen have spoken in the past about how “attractive” India and other emerging markets are for investment opportunities, so we can assume that the report will be at least partially true.