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.

Investors race to win early-stage startup deals in India

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:

1. Home services platform Urban Company raises $255 million at $2.1 billion valuation Link

2. OfBusiness in talks with SoftBank to raise funds at $1.2 billion valuation Link

3. Indian giant Tata Digital to invest $75 million in fitness startup CureFit Link

4. SoftBank to back Flipkart Link

5. Singapore’s GIC leads $50 Mn Series C round in LocusLink

6. Wakefit in talks to raise funds at up to $400 million valuation Link

7. Tiger Global leads $35 Mn round in GoMechanic Link

8. Pepperfry expects to join unicorn club soon, to launch IPO after booking profit Link

9. India’s largest crypto exchange WazirX launches country’s first NFT marketplace Link

10. InMobi set to acquire social commerce firm Shop101 Link

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

---