1947 Tech 🇮🇳: 149

Dream11 going public, Razorpay, Druva, ESOP pool expansion & more!

1. Dream11 parent Dream Sports weighs $1.5-billion US listing

Dream Sports, the parent company of Indian Premier League’s official partner Dream11, is in exploratory talks with investment banks for a US listing by early next year, joining the league of Indian tech unicorns preparing for overseas listings.

Dream Sports may raise about $1.5 billion through the listing, valuing the company at $6 billion, an almost 40% increase from the funding round that concluded last month, said at least three people aware of the plans.

Investment banks Morgan Stanley, JP Morgan and Citigroup are among those that made presentations to the company in the first week of April. No firm initial public offering (IPO) mandate has been given and neither has the quantum of fundraising or the timeline.

Dream11 parent Dream Sports weighs $1.5-billion US listing

2. Founder and Operator Angels in India

Indian tech ecosystem has reached a scale where we are seeing founders and operators at high-growth tech companies have started backing next-generation entrepreneurs.

I’ve compiled a list of founders and operators that have been/started writing angel cheques in India. 

If you are a first-time founder raising pre-seed/seed the list below can be useful.

Founder & Operator Angels in India

A tweet

Kunal Shah @kunalb11

April 2021 has been the month of unicorns. April 2021 is also the month where unicorns have committed to not exit & create huge returns for its shareholders via IPO. April 2021 is also when more people will trust startups and support them. Onwards and upwards. 🚀

Worth your attention:

1. Amazon announces $250 million venture fund for Indian startups Link

2. Paytm expands its ESOP pool to $600 Mn; VSS owns $2.2 Bn worth stake Link

3. Flipkart likely to bag Cleartrip for $40 million in distress sale Link

4. Facebook planned to remove fake accounts in India — until it realized a BJP politician was involved Link

5. The next decade belongs to Indian tech startup founders, says AngelList India head Utsav Somani Link

Funding news:

1. India’s Razorpay raises funds at $3 billion valuation ahead of Southeast Asia launch Link

2. Druva Raises $147 Million At A Valuation Of Over $2 Billion. Here’s Why It Chose Not To Raise A… Link

3. Chargebee valued at $1.4 billion in new $125 million fundraise Link

4. SoftBank in talks to invest up to $500 million in Swiggy Link

5. Zeta in talks with SoftBank to raise at over $1 billion valuation Link

6. ZestMoney in talks to raise $80 Mn from existing and new backers Link

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