1947 Tech 🇮🇳: 129
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Why you have to pay attention to the Indian startup scene
I couldn't agree more!
Seasoned folks from existing Indian tech companies are branching out and starting companies of their own, recycling knowledge into new, smaller companies. This is a key method by which Silicon Valley has managed to create an outsized number of hits over time; a concentration of operators who have built big startups are key grist in the unicorn mill.
And there’s more money being raised to help power new Indian tech companies.
2. India leads world, processes 41 mn real-time transactions a day
India has emerged as the global leader in real-time payments, handling 41 million transactions per day, according to a report by FIS Global.
The real-time activity, the report said, has further improved in the country, with volumes jumping more than twice this year and the transaction value increasing 80 per cent.
3. India’s smartphone market hits record 50M units in Q3, Chinese cos capture 76pc share: Canalys
India’s smartphone segment rebounded after the lockdown to touch an all-time high of 50 million units in the September quarter with Chinese companies collectively holding 76 percent market share, according to research firm Canalys.
Worth your attention:
Reliance, Future Group ignore Amazon protest on $3.4B deal Link
Snapchat doubles down on India with new original series, games Link
First week of festive sale processed GMV worth $4.1 Bn: Report Link
Flipkart won the first week of online sales: Report Link
Curefit co-founder Ankit Nagori swaps equity for larger ownership in Eatfit Link
India’s Flipkart buys $204 million stake in Aditya Birla Fashion and Retail Link
FreshToHome closes $121 million Series C funding round Link
Jumbotail bags $11 million in funding led by Heron Rock Link
Video creation and editing platform InVideo raises $15 million Link
Betterplace raises $10 million in Series B funding led by Jungle Ventures Link