$8B funding in mobile-based start-ups in last 5 years

India's startup companies are racing to embrace mobile industry and it is proving to be a game changer for them.

According to a report, startups in m-commerce, video streaming, gaming and m-payment segments, which are the major contributors to driving mobile data consumption, have attracted more than $8,053 million worth of funding through 394 early stage deals in the last five years.

The 'Annual Indian Mobile Ecosystem Report', by News Corp VCCircle revealed that startups in these four segments saw a surge in terms of deal volumes with 115 early stage funding deals amounting to $2,857.73 million in 2015 against 87 deals worth $3,285 million in 2014.

With mobile phones contributing 40 percent of all e-commerce sales in India in 2015, M-commerce and mobile payments attracted investment deals of $7,930 million cumulatively, in the last five years.

"With a majority of mobile-centric startups still being in the early funding stage, the likelihood of them achieving scale and breaking even in the absence of adopting successful monetization strategies is still low," the report noted.

According to an another report released in April by market research firm Zinnov, India's m-commerce market could balloon to $19 billion by 2019, up 850 percent from its current size of $2 billion.