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%.
API startup Postman in talks with Insight Partners to raise new funds at $2 billion
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.
Cover Story: Sridhar Vembu's Vision From The Village | Forbes India
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.
Arkam Ventures announces the first close of its Rs 700 Cr early-stage tech fund, to focus on startups building for Middle India
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