1947 Tech 🇮🇳: 156
1947 Tech 🇮🇳: 156
Softbank in India, UrbanCompany, Tata Digital & more!
1. Investors race to win early-stage startup deals in India
India may be grappling with the second wave of the coronavirus, rising unemployment and a dwindling economy, but the South Asian nation’s burgeoning startup ecosystem has never had it better.
High-profile investors in India have long aggressively chased growth-stage and late-stage deals, pouring record amounts of capital into the world’s second-largest internet market. But in a sign of the growing investor bullishness regarding Indian startups, even early-stage companies that have largely been bereft of much similar attention in recent years are now sharing the limelight.
More than 70 early-stage Indian startups are currently in various stages of talks to raise money, according to sources familiar with the matter. The size of the investments vary from a few million dollars up to $100 million.
2. SoftBank Vision Fund invested $2 billion into India startups this year: CEO Rajeev Misra
Aggressive Softbank is back in India.
SoftBank Vision Fund has deployed $2 billion in India over the first five months of the year, and will continue to back technology businesses which are seeing improved unit economics buoyed by the growing digital adoption on the back of the Covid-19 pandemic, Rajeev Misra, the chief executive of the Japanese fund, told ET in an interview.
The capital committed also includes deals that are yet to be officially announced.
The Vision Fund is estimated to have invested around $15–18 billion globally, and about 15–20% of that has come to India. “The key is to find interesting companies where we like the founder and the valuation,” Misra said
SoftBank Vision Fund invested $2 billion into India startups this year: CEO Rajeev Misra
An infographic:
Worth your attention:
Home services platform Urban Company raises $255 million at $2.1 billion valuation Link
OfBusiness in talks with SoftBank to raise funds at $1.2 billion valuation Link
Indian giant Tata Digital to invest $75 million in fitness startup CureFit Link
SoftBank to back Flipkart Link
Singapore’s GIC leads $50 Mn Series C round in LocusLink
Wakefit in talks to raise funds at up to $400 million valuation Link
Tiger Global leads $35 Mn round in GoMechanic Link
Pepperfry expects to join unicorn club soon, to launch IPO after booking profit Link
India’s largest crypto exchange WazirX launches country’s first NFT marketplace Link
InMobi set to acquire social commerce firm Shop101 Link