Discover more from 1947 Tech Newsletter 🇮🇳
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.
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
2. Indian fantasy sports app Dream11’s parent firm raises $225M at over $2.5B valuation
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.
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.
A few tweets:
Worth your attention:
YouTube to launch short-video feature Shorts in India in a few days Link
House panel for abolition of LTCG tax on investments in startups Link
Internet platforms rush to get a pie of growing Insurance market Link
JioMart enters the top three downloaded shopping apps list in August Link
Observe.ai raises $54 million in funding led by Menlo Ventures Link
Amazon-backed Indian insurtech startup Acko raises $60 million Link
Y Combinator’s Continuity Fund leads $30 million funding in Groww Link
Hasura raises $25 million in funding led by Lightspeed Venture Partners Link
The Moms Co Raises $8m from Saama, DSG, others Link