1947 Tech 🇮🇳: 158

SaaS, Tata, Tiger & more!

1. BrowserStack becomes India’s highest-valued SaaS firm after fresh funding

Founded in 2011 by Ritesh Arora and Nakul Aggarwal, BrowserStack was a bootstrapped venture for its first seven years.

BrowserStack, a web and mobile app testing platform, has raised $200 million, led by storied Silicon Valley investor Mary Meeker’s Bond Capital, valuing the San Francisco and Mumbai-based company at $4 billion.

The latest financing has made BrowserStack the most valued software as a service or SaaS company from India overtaking Freshworks which is preparing to go public in the US.

The SaaS story of India is going to be massive.

For Indian SaaS firms, salaries for entry-level developers and sales resources are cheaper by 85% and 74%, respectively, compared to the US.

BrowserStack becomes India's highest-valued SaaS firm after fresh funding

2. Tatas plan to raise $2–2.5 billion for e-commerce

Tata now has Mukesh Bansal, arguably one of the best tech entrepreneurs in India. They now own a majority stake in Mukesh’s company Curefit.

Tata is making smart investments (Bigbasket, Curefit, and 1mg) and is gearing up to build out a super-app.

Tata’s digital strategy is widely different from how Mukesh Ambani has gone about making acquisitions and investments in new-age startups. After Reliance Jio Platforms raised $15.2 billion last year, it didn’t really go on to plough that money into big digital assets that would help it snag top-notch founders. Instead, it only acquired companies that were in dire straits and thus inexpensive — think Urban Ladder, Milkbasket.

Tatas plan to raise $2-2.5 billion for e-commerce

An infographic

Worth your attention

1. Apna raises $70 million to help workers in India secure jobs Link

2. Vedantu seeks $1 Bn valuation in a new round Link

3. PharmEasy valued at $1.8 billion as B Capital buys stake for $20 million Link

4. FamPay, a fintech aimed at teens in India, raises $38 million Link

5. Progcap raises $25 Mn round led by Tiger Global and Sequoia Link

6. Tiger Global in talks to back BharatPe at $2.5 billion valuation Link

7. India Quotient raises $64 mn for its fourth fund Link

8. Tiger Global leads $26 Mn Series A round in Kutumb Link

9. CityMall raises $22.5 Mn in Series B led by General Catalyst and Jungle Ventures Link

10. FrontRow set to raise $10 Mn in Series A at $60 Mn valuation Link