Discover more from 1947 Tech Newsletter 🇮🇳
1947 Tech 🇮🇳: 114
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. API startup Postman in talks with Insight Partners to raise new funds at $2 billion
Postman was valued at $350M just a year ago.
That’s quite impressive.
Postman is a collaboration platform for managing, developing and testing application programme interfaces (APIs). APIs are a set of tools for building applications used by software developers.
If the deal goes through, Postman would be the 5th SaaS unicorn from India.
Others — Zoho, Freshworks, Druva, and Icertis.
This is just a beginning. India could eventually end up becoming the SaaS hub of the world
According to SaaSBOOMi, which is a community for SaaS companies in India, India’s SaaS industry clocked $1.5 billion in revenues in 2019, and is expected to grow to $10 billion by 2025. In that time, India is expected to grow from controlling a 2.6% share of the global SaaS market to 8%.
2. Cover Story: Sridhar Vembu’s Vision From The Village | Forbes India
Just one word — Inspiring!
Sridhar Vembu, founder and CEO of Zoho. He owns 88% of the company and is worth around $1.4 - $1.8B.
Never raised outside capital. Zoho is bootstrapped.
Yes, you heard it right — bootstrapped.
Why the Zoho founder moved from San Francisco to a village 650 km from Chennai.
3. New VC funds in India
As the ecosystem matures, naturally more capital becomes available for startups.
And we are seeing this unfold in India
Every 2–4 weeks, a new fund is in the market.
India would become one of the most competitive early-stage investing markets globally in the next 3–5 years.
A few tweets
Worth your attention:
Tiger Global to move court over denial of tax relief on Flipkart stake sale Link
My father spent nearly a year’s salary on my plane ticket to the US, says Google CEO Sundar Pichai Link
WeWork commits $100 million investment into India operations Link
Walmart’s Flipkart rolls out voice assistant to make shopping easier Link
Unacademy in talks to raise $100-$150M, eyes unicorn club Link