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

Chinese investment proposals in limbo

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:

1. Paytm Money now live with stock broking services and MF trades Link

2. Flipkart ropes in 1MG for e-pharma Link

3. Banned Chinese apps re-enter in new avatarsLink

4. Chiratae is looking for next round of early stage ventures Link

5. Virgin Hyperloop, BIAL to explore building hyperloop between Bengaluru airport & city centre Link

Funding:

1. Walmart invests $560 million in Flipkart Link

2. BigBasket in talks with new investors for $350–400 million funding Link

3. Smallcase raises $14 million in funding led by DSP Group Link

4. Lee Fixel returns to India, makes first investment from new fund Addition Link

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