Bangalore, India’s third largest city, last year beat out Shanghai in venture capital funding for the first time.
The city has long been regarded as India’s Silicon Valley and the hub for many of the country’s big tech firms. But the surge in investment — a 162% year-on-year growth in new capital, according to Crunchbase — signaled a broader shift among investors, who are diverting attention from more typical innovation and talent hotspots.
