1947 Tech 🇮🇳: 162
The Indian tech ecosystem has arrived!
1. Why Zomato IPO is a reason for cheer
One story can build a narrative. And a narrative can change a country’s mindset.
This is how I envision future India, the new India.
Seeking government jobs → seeking private jobs → creating jobs by starting companies.
India will be an entrepreneurial first nation.
Success stories like Zomato will set the tone.
Indians celebrating 30 years of economic reform must cheer this remarkable outcome. It denotes a new class of businesses with no great inherited wealth, connections to the political and social elite, dubious links with the mafia and corrupt politicians, or dependence on loans from public sector banks based on telephone calls from the Finance Ministry or PMO. These are the children of liberalisation, not of the wealthy.
2. From Zomato IPO to Flipkart funding, India’s tech moment arrives
Hans Tung is someone who has seen the china tech ecosystem play out from the very beginning and he has been investing in India for the last few years.
His experience carries tons of weight.
“Indian entrepreneurs have been quietly building startups for a decade now, the country’s internet infrastructure has vastly improved in that time and there’s a very good appetite for tech stocks globally,” said Hans Tung, the Silicon Valley-based managing partner of GGV Capital, which manages $9.2 billion in assets. “Investors are beginning to see the huge upside and they expect India to be a China.”
Worth paying your attention
Indian food delivery startup Swiggy raises $1.25 billion led by SoftBank and Prosus Link
India’s GlobalBees raises $150 million to build Thrasio-like house of brands Link
Lenskart raises additional $220 million for global expansion Link
India is the new hope for tech investors with fund-raising blitz Link
OYO raises $660 mn debt from investors Link
Pratilipi raises $48 million in Series D round led by Krafton Link
Startup employees pocket $100 Mn through ESOPs in first half of 2021 Link
Blackstone to acquire majority stake in Simplilearn Link
YouTube acquires Indian social commerce startup Simsim Link
BMW bike, cricket in Dubai: Hiring perks up for tech talent Link