1947 Tech 🇮🇳: 108

Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India

1. Facebook invests $5.7B in India’s Reliance Jio

2nd biggest thing to happen to the digital ecosystem of India after the Flipkart — Walmart deal, said my colleague Utsav Somani at AngelList India.

I absolutely agree with him. This is massive in many ways.

And Matthew dropped the mike!

To put things in perspective, Chinese VC and Chinese companies had invested about $4B in 2019 in about 90 companies and own huge stakes in many top Indian Unicorns.

Facebook has invested $5.7B for a mere 9.9% in Jio. 

Excellent read.

Facebook invests $5.7B in India's Reliance Jio

2. Funding for unicorns, smaller startups may be hit as India reinforces FDI wall

India’s top startup unicorns — including Paytm, Zomato, BigBasket and Dream11 — that count Chinese investors among their largest backers are likely to face delays in raising capital after the government said all foreign direct investments from the world’s second-largest economy would be subject to its approval first.

The following chart gives a good idea of Chinese investments in India.

Funding for unicorns, smaller startups may be hit as India reinforces FDI wall

Worth reading:

1. India’s lockdown is making life hard for its most popular apps Link

2. Startups rope in celebs to engage users online amid lockdown Link

3. Reliance Jio and Times Group apps most downloaded in 2019 Link

4. Yellow Messenger raises $20M Series B from Lightspeed Venture Partners Link

5. Bijak scores $12 Mn in Series A; valuation jumps over 7X Link

A week in review:

Thank you for reading. Please share any feedback, questions or comments with me on Twitter :)