1947 Tech 🇮🇳: 126
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Indian startups explore alliance and alternative app store to fight Google’s ‘monopoly’
Google, which reaches more internet users than any other firm in India and commands 99% of the nation’s smartphone market, has stumbled upon an odd challenge in the world’s second-largest internet market: scores of top local entrepreneurs.
More than 150 startups and firms in India are working to form an alliance and toying with the idea of launching an app store to cut their reliance on Google,
Indian startups explore alliance and alternative app store to fight Google's 'monopoly'
2. Chinese investment proposals in limbo
Over a hundred of investment applications, primarily from Chinese origin investors looking to pump capital into the Indian startup ecosystem, are stuck in regulatory quagmire
These proposals, ranging from early to growth-stage investments, are on hold or are being moved between various departments and ministries as the government continues to maintain strict curbs on capital inflow from Beijing and Hong Kong.
Related: Govt sets up panel to screen all Chinese foreign investment proposals
3. Companies are scaling, the ecosystem is maturing:
In the last 2–3 years, Indian startups have shown that it can scale. In the next 5 years, you will see that Indian companies can scale globally.
Companies are thinking long term hence offering ESPOS to retain their best talent.
In the last few months we have had over a dozen companies who have allotted or expanded their ESOPs pool and the trend is only growing.
Oyo adds Rs 1,054 Cr ($141M) to its ESOP pool Link
ShareChat expands its ESOP pool to $35 Mn Link
Zetwerk and WMall to reward their employees through ESOPs Link
Pine Labs allots $14 Mn worth ESOPs to its CTO, CFO and a dozen others Link
Worth your attention:
Paytm Money now live with stock broking services and MF trades Link
Flipkart ropes in 1MG for e-pharma Link
Banned Chinese apps re-enter in new avatarsLink
Chiratae is looking for next round of early stage ventures Link
Virgin Hyperloop, BIAL to explore building hyperloop between Bengaluru airport & city centre Link
Walmart invests $560 million in Flipkart Link
BigBasket in talks with new investors for $350–400 million funding Link
Smallcase raises $14 million in funding led by DSP Group Link
Lee Fixel returns to India, makes first investment from new fund Addition Link