1947 Tech 🇮🇳: 118
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Sequoia announces $1.35 billion venture and growth funds for India and Southeast Asia
Sequoia India made 50+ investments in India in 2019, which makes them the most active investor in the country.
And it ain’t stoppin!
Sequoia Capital India on Monday announced it has secured $1.35 billion from LPs for two new funds as the storied venture firm looks to ramp up its investments in the world’s second-largest internet market and Southeast Asia.
The firm, which began investing in India 14 years ago, closed its last fund, of $695 million, for India and Southeast Asia in 2018. That was its sixth fund for the region.
It has backed 11 unicorns in India and Southeast Asia to date.
Sequoia announces $1.35 billion venture and growth funds for India and Southeast Asia
2. SoftBank buys more stake in PolicyBazaar in $130 million deal
Masa is back!
SoftBank Vision Fund has picked up an additional stake for $130 million in EtechAces Marketing and Consulting, which owns online financial services portals PolicyBazaar and Paisabazaar, according to three sources familiar with the development. The new investment will give it an over 15% stake in the company and value it at about $1.5 billion.
SoftBank buys more stake in PolicyBazaar in $130 million deal 
3. Facebook-backed Unacademy acquires PrepLadder for $50 million
Edtech is a massive opportunity in India.
In fact, to an extent that Edtech startups gather 20% of overall VC investments in H1 2020
Indian online learning platform Unacademy said on Tuesday it has acquired Chandigarh-based startup PrepLadder for $50 million — in a cash and stock deal — as the Facebook-backed edtech giant scouts for deals to expand its presence in the country.
PrepLadder, which employs about 150 people, offers courses aimed at medical students. The two-year-old startup, which never raised any capital from external investors, has more than 80,000 subscribers, said PrepLadder co-founder Deepanshu Goyal.
Facebook-backed Unacademy acquires PrepLadder for $50 million
A few tweets:
Worth your attention:
Paytm to acquire general insurance firm Raheja QBE for $76 million Link
Zolostays raises $56M in Series C round from Investcorp, Nexus Venture Partners Link
India accounts for 24% of PUBG lifetime downloads Link
After TikTok ban, Facebook is reportedly testing Reels in India Link
Pine Labs eyes Asia operations of sinking Wirecard Link
A week in review:
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