1947 Tech 🇮🇳: 128

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

1. India on path to have 100 unicorns by 2025 despite covid impact

Build or invest — you don’t want to miss out on the upcoming innovation and wealth creation.

Exciting times ahead!

India is on a path to have 100 unicorns by 2025, despite the impact that the COVID-19 has had on the Indian startup ecosystem. 

To put things in perspective, despite being jolted by pandemic, four Indian startups - Postman, Nykaa, Unacademy, and Razorpay became unicorns amid COVID-19 and the country is on track to have 8 unicorns in 2020 - almost the same number of additions as in 2019

India on path to have 100 unicorns by 2025 despite covid impact: TiE report

2. ShopUp raises $22.5 million to digitize millions of mom-and-pop shops in Bangladesh

As the Chinese tech ecosystem got super competitive, we saw Chinese entrepreneurs started founding companies in India and SEA.

We are seeing the same trend with the Indian entrepreneurs now. In this case, Sujayath Ali, from India has teamed up with local Afeef Zaman from Bangladesh.

A startup that is aiming to digitize millions of neighborhood stores in Bangladesh just raised the country’s largest Series A financing round.

ShopUp raises $22.5 million to digitize millions of mom-and-pop shops in Bangladesh

3. Indian companies may get nod to list in 7 countries

Just embrace your tech entrepreneurs and you would be just fine. 

The tech companies account for 40% of the total job creation in the US. 

Think about it, that’s a massive number.

The ministry of corporate affairs (MCA) and the department of economic affairs have agreed to do away with the contentious clause of dual listing, which required a company to list in India as well as overseas

If it happens, Indian companies will get access to more global capital, and as a byproduct more jobs will be created at home.

Indian companies may get nod to list in 7 countries

A tweet:

Kunal Bahl @1kunalbahl

The quality of entreprenuerial thinking and ideas have gone through the roof this year. The challenges of the pandemic have unlocked the best ideas in the brightest minds.

Worth your attention:

1. Covid fails to dampen investors’ spirits as Q3 startup funding jumps 200% from year ago,193% from Q1 Link

2. FDI with even the smallest Chinese holding will need govt nod Link

3. If you deliver in India, you can deliver globally: Ola’s Bhavish Aggarwal Link

4. Thrift shopping: How young Indians are taking to second-hand, pre-loved and vintage clothes Link

5. India very critical market for Instagram: Facebook India MD Ajit Mohan Link

6. Etailers could rake $6.5 billion in sales this festive season Link

Funding:

1. SAIF Partners rebrands as Elevation Capital, secures $400 million for its new India fund Link

2. Zomato raises additional $52 million from Kora Investments Link

3. Avataar.me raises $7 million from Sequoia IndiaLink

4. Dukaan raises $6 million led by Matrix Partners, Lightspeed India Link

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