1947 Tech 🇮🇳: 144
100 unicorns, CRED, cryptocurrency, online consumer market & more!
1. Startups see 37% more first-time global backers
If not the most, India has certainly become one of the most competitive venture capital markets globally.
And trust me this is just the beginning. So much is yet to be built.
Global investors what a piece of India's growth story.
Despite geopolitical tensions halting Chinese investment, around 59 international investors made their first-time PE-VC investment in India in 2020, according to data analysed by consulting firm Praxis Global Alliance. This is a 37% rise in the number of global first-time investors who invested in Indian startups, given that the corresponding number stood at 43 in 2019.
2. Tiger Global in talks to invest in young Indian social network at $170M valuation
The speed of execution by Indian founders and their mindset is unreal lately. No ceilings.
Fuego.
Tiger Global is in advanced stages of talks to lead a round of $15 million to $20 million in seven-month-old Kutumb that values the Indian startup at about $170 million.
The American investment firm has offered a termsheet to the Indian startup but the deal — a Series A — has not closed yet, some of the people said on the condition of anonymity as the talks are private. Usual caveat: Terms may change, or the deal may not materialize.
Kutumb, which means family in Hindi, has built a “private social network like Reddit” that connects communities based on “culture, creed, beliefs, interests, [and] professions.”
Tiger Global in talks to invest in young Indian social network at $170M valuation
A tweet:
Worth Your Attention:
India Has 100 Unicorns, A Credit Suisse Report With Unique Methodology Claims Link
World’s Largest E-Scooter Factory to Make EV Every 2 Seconds Link
India to propose cryptocurrency ban, penalising miners, traders — source Link
Consumer spends on internet biz to grow to $250 bn by FY25 Link
Indians spend an average of 8.5 hours gaming every week: Report Link
Funding News:
India’s CRED in talks to raise $200 million at $2 billion valuation Link
REFILE-Sequoia-backed India’s Stanza Living in final stages of raising up to $120 mln Link
Icertis raises $80 million funding at $2.8 billion valuation Link
PUBG Mobile-developer invests $22.4 million in India’s Nodwin Gaming Link
Fintech startup YAP raises $10 million in Series B funding Link