Discover more from 1947 Tech Newsletter 🇮🇳
1947 Tech 🇮🇳: 125
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Flipkart eyes overseas listing as early as 2021
A dozen companies have announced to go public. Flipkart is the new one to enter the club.
Walmart-owned Flipkart is preparing to tap the public markets as early as 2021, in the US or Singapore, Reuters reported on Wednesday. The ecommerce major may be valued at $50 billion.
The IPO of Flipkart will set the ball rolling for other Indian unicorns.
India currently has 31 unicorns. Expected to have 80–100 by 2025.
Imagine the number of new angel investors and new companies would come out of this.
Exciting times ahead!
In addition to this, the Indian government is working towards making it happen. Indian regulators are working on IPO norms — Sebi readies fresh draft for Nasdaq-like trading platform
2. Mobile Premier League bags $90 million in funding, announces ESOP buyback
Just in two years, MPL has amassed 60 million users, reached the valuation of $450M, and is buying back ESOPS.
This speaks volumes of the company’s culture and the scale that the Indian tech ecosystem has reached.
MPL has raised $90 million in its latest financing round from the likes of SIG Global and RTP Global along with MDI Ventures and Pegasus Tech Ventures
The company also executed a buyback of employee stock ownership plans (Esops) worth $3.2 million as part of the fundraising
3. The Cloud 100 2020
India has been catching up and it’s catching up very quickly.
This past decade has been about the US and China. However, I believe the coming decades the world would have three ecosystems.
The US, China, and India.
India is uniquely positioned to build massive SaaS companies and we are starting to see this already. Products will be built in India and sold globally from day one.
It’s a sector where India has an advantage over China.
Three are from India
How many we would see in 2025?
A few tweets:
Over 50 2nd/3rd-time founders raised funds for their new startup in 2020
Worth your attention:
Amazon India launches four new regional languages on its platform Link
Google pulls India’s Paytm app from Play Store for repeat policy violations Link
A $50 phone is Mukesh Ambani’s weapon to dominate India’s telecom market Link
Tesla initiates talks to set up research centre in Bengaluru Link
Apple launches its online store in India Link
Byju’s adds $190 Mn to its Series F round with three new investors Link
Razorpay set to be unicorn with up to $150 Mn round led by GIC Link
Servify has secured $23 million in Series C funding round led by existing backer Iron Pillar Link
Classplus raises $10 million in funding led by Alpha Wave Incubation Link
Lightspeed Venture Partners expands to Southeast Asia Link