1947 Tech 🇮🇳: 124

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

1. Zomato to go public by first half of 2021, as Tiger Global, others join financing round

Boom! Another week, another IPO preparation announcement.

Zomato to go public next year. Exciting news for the ecosystem overall. 

Byproduct?

More angel investors and more companies would be created.

Zomato has roped in New York-based investment fund Tiger Global as part of its current fundraising round, the online food delivery platform’s cofounder and CEO Deepinder Goyal said in an email to employees on Thursday. The Gurugram-based firm is also on course to tap the public markets by mid-2021

IPO announcements don’t stop here:

SoftBank-backed Delhivery plans IPO over next 12–18 months Link

MobiKwik starts IPO prep: Elevates SVP Chandan Joshi to Co-Founder Link

Zomato to go public by first half of 2021, as Tiger Global, others join financing round

2. Indian fantasy sports app Dream11’s parent firm raises $225M at over $2.5B valuation

Dream11 has launched an accelerator called DreamX, Zerodha has been running an accelerator + fund called Rainmatter for some time now.

Corporate development in India is slowly but surely maturing and it reflects the scale of the Indian companies.

Dream Sports, the parent firm of fantasy sports app Dream11, has secured $225 million in a new financing round as the Mumbai-headquartered firm builds what it calls an “end-to-end sports tech company” in the cricket-loving nation, which is also the world’s second largest internet market.

Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures financed $225 million in Dream Sports through primary and secondary investments, the 12-year-old Indian firm said.

Indian fantasy sports app Dream11's parent firm raises $225M at over $2.5B valuation

3. Indian decacorn Byju’s CEO talks about future acquisitions, coronavirus and international expansion

Coming back to Indian companies can scale and expand globally. Byju’s fits right there.

The startup expects to generate more than $1 billion in revenue this year from India itself and take home profits between $150 million to $180 million, CEO of Byju’s

Btw Byju’s is the most valuable edtech startup in the world.

Indian decacorn Byju's CEO talks about future acquisitions, coronavirus, and international

A few tweets:

Nithin Kamath @Nithin0dha

We just provided liquidity to everyone on the team through an ESOP buyback. My most satisfying day as CEO of @zerodhaonline.

Kunal Bahl @1kunalbahl

These reforms would open the floodgates of domestic capital going into start-ups like never before, as long as the eligibility criteria of the tax benefits is not too narrow, enabling the widest set of startup investors and companies to benefit for a long enough period of time.

CNBC-TV18 @CNBCTV18Live

Parliamentary Standing Panel on Finance strongly recommends that tax on Long Term Capital Gains (#LTCG) be abolished for all investments in startup companies https://t.co/Pxd2PjuYsx

Worth your attention:

1. YouTube to launch short-video feature Shorts in India in a few days Link

2. House panel for abolition of LTCG tax on investments in startups Link

3. Internet platforms rush to get a pie of growing Insurance market Link

4. JioMart enters the top three downloaded shopping apps list in August Link

Funding:

1. Observe.ai raises $54 million in funding led by Menlo Ventures Link

2. Amazon-backed Indian insurtech startup Acko raises $60 million Link

3. Y Combinator’s Continuity Fund leads $30 million funding in Groww Link

4. Hasura raises $25 million in funding led by Lightspeed Venture Partners Link

5. The Moms Co Raises $8m from Saama, DSG, others Link

A week in review:

Shiva Singh Sangwan @shivassangwan

This week in 🇮🇳: • Indian Fantasy sports app Dream11’s parent first raises $225M at over $2.5B valuation • Observe. ai raises $54M in funding by Menlo Ventures • Amazon-backed Indian insurtech startup Acko raises $60M • Hasura raises $25M

Shiva Singh Sangwan @shivassangwan

• Y Combinator’s Continuity Fund leads $30M funding in Groww • Virtual events platform Airmeet raises $12M • The Moms Co raises $8M • Youtube to launch short-video feature Shorts in India

Shiva Singh Sangwan @shivassangwan

Indian companies that have announced to go public in the next 12-18 months • InMobi • PolicyBazaar • Zomato • Delhivery • Mobikwik • PayTm

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