New Delhi, Oct 23 (TIWN) Venture capital investment in India rose from $1.5 billion in the second quarter of this year to $3.6 billion in Q3 despite concerns related to Covid-19 and geopolitical tensions, according to a new report by KPMG Private Enterprise on Thursday.

"The clear standout sector for VC investment in India has been edtech. This has been true for the past couple of quarters, but this quarter the list of deals just goes on and on. It's quite a diverse area, going well beyond the traditional K-12 model," Nitish Poddar, Partner and National leader -- Private Equity, KPMG in India said in a statement.  "There are digital offerings focussed on competitive exams, engineering or medical entrance exams -- even programs to teach coding to children. It's a very hot area for investment and will likely remain so for some time."  The global VC investment also rose from $70 billion across 5,674 deals in Q2 to $73.2 billion across 4,861 deals in Q3.  The strong level of investment was buoyed by a significant number of large, late stage funding rounds in different jurisdictions, including three $1 billion+ megadeals - US-based aerospace company SpaceX ($1.9 billion), China-based automotive company Weltmeister ($1.5 billion), and India-based online retailer Flipkart ($1.3 billion).