Discover more from 1947 Tech Newsletter 🇮🇳
1947 Tech 🇮🇳: 115
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Bharat to haul ecomm GMV past the $100 billion mark by 2025: Study
India’s e-commerce market, which forms just 3.4% of the country’s $850 billion retail market, is at an inflection point.
India’s online shopper base will grow from 100 million now to 300–350 million by 2025, with majority of new shoppers from tier-2 towns, says Bain & Company-Flipkart study
We believe voice, vernacular and video are going to be extremely critical as we cater to the next 200 million shoppers that come online,” said Shyam Unnikrishnan, Partner at Bain & Company.
Kalyan Krishnamurthy, CEO of Flipkart Group, told ET in a recent interview that around 50–60% of new users who come into the consumer internet funnel each year in India make their first transaction through a video platform.
2. Microsoft’s venture fund sets up office in India — ETtech
Welcome to India, M12!
The fund will focus on B2B software startups in the sectors of applied artificial intelligence, business applications, infrastructure, security.
Formerly known as Microsoft Ventures, M12 said it is looking to invest in enterprise software startups in the Series A through Series C funding stages, targeting both local and cross-border solutions
M12 has already been remotely investing in India since 2019 and its portfolio includes names like Innovaccer and FarEye. Globally, it has backed 90 companies so far.
2b. BEENEXT closes $160M in two new funds; to have major focus on Indian startups
This Singapore-based VC firm has invested in 72 startups in India till now and plans to allocate 50 percent of the new fund in the country’s startup ecosystem
It’s current portfolio in India, including the likes of NoBroker, Droom, CitrusPay, BharatPe, Bank Open, YAP, Mobile Premier League, Trell, WorkIndia, Healthians, MFine, Servify, Fleetx, CropIn, and MilkBasket.
3. 50 future unicorns: CB insights
Three Indian startups that made it to the list:
Worth your attention:
Sinch to buy India’s ACL Mobile for $70 million Link
India 2019 FDI up 21 pc; growth to continue: UN Link
COVID-19 impact: 38 pc of startups have run out of cash, reveals survey link
Draper ventures out in India with its platform Link
India’s data consumption may touch 25 GB per month per user by 2025: Ericsson Link