1947 Tech Newsletter 🇮🇳

Share this post

1947 Tech 🇮🇳: 170

1947tech.substack.com

1947 Tech 🇮🇳: 170

a16z, fastest unicorn, and more!

shiva singh sangwan
Sep 21, 2021
1
Share this post

1947 Tech 🇮🇳: 170

1947tech.substack.com

1. A16z in talks to back CoinSwitch Kuber in first India investment

Finally, it is happening, welcome to India a16z

A16z is inching closer to making its first investment in a startup in India, the world’s second-largest internet market that has produced over two dozen unicorns this year.

The Menlo Park-headquartered firm is in final stages of conversations to invest in Indian crypto-trading startup CoinSwitch Kuber, three sources familiar with the matter told TechCrunch. The proposed deal values the Bangalore-based firm at $1.9 billion, two sources said. Coinbase is also investing in the new round, one of the sources said.

CoinSwitch Kuber was valued at over $500 million in a round in April this year when it raised $25 million from Tiger Global. If the deal with a16z materializes, it will be CoinSwitch Kuber’s third financing round this year.

A16z in talks to back CoinSwitch Kuber in first India investment

2. Tiger Global-led $100M investment makes Apna India’s fastest unicorn (22 months)

The speed at which Indian founders are moving is unreal.

A 22-month-old startup that is helping millions of blue- and gray-collar workers in India learn new skills and find jobs has become the youngest firm to join the coveted unicorn status in the world’s second-largest internet market.

Apna announced on Thursday that it has raised $100 million in a round led by Tiger Global. The new round — a Series C — valued Apna at $1.1 billion. TechCrunch reported last month that Tiger Global, an existing investor in Apna, was in talks to lead a $100 million financing round in the startup at the unicorn valuation.

Owl Ventures, Insight Partners, Sequoia Capital India, Maverick Ventures and GSV Ventures also participated in the new round, which is the third investment secured by Apna this year. Apna was valued at $570 million in its Series B round in June this year.

Tiger Global-led $100M investment makes Apna India's fastest unicorn

Podcast 🎙

Twitter avatar for @shivassangwan
Shiva Singh Sangwan @shivassangwan
1947 Rise 007 ☀️ Today marks 10 years since Aakrit Vaish (@aakrit) moved back to India. Built @haptik, sold it to Reliance Jio & backed 50+ ambitious founders (@gauravmunjal). He is an asset to the Indian tech ecosystem. We are lucky to have him 🙂 anchor.fm/1947-rise/epis…
anchor.fm7: Aakrit Vaish (Haptik) by 1947 RiseAakrit Vaish is the Co-Founder & CEO of Haptik, a Reliance Jio Platforms company & he is also an Angel Investor in 50+ amazing founder SHOW NOTES The journey from growing up in India to moving to the US and then moving back to India (1:00) What made him move back to India (6:46) Evolution of th…
3:23 AM ∙ Sep 17, 2021
25Likes4Retweets

Worth your attention

  1. SoftBank fund and DST Global lead $450 mn funding in Cars24 Link

  2. Gaming app MPL, founded by IITian just 3 years ago, turns unicorn Link

  3. Salesforce Ventures invests in Razorpay Link

  4. Byju’s buys coding site Tynker to beef up US expansion Link

  5. Sony’s new VC to roll the dice on Indian startups Link

  6. Jungle Ventures raises $225 Mn to invest in India, SEA startups Link

  7. Dream11’s Harsh Jain to set up investment fund Link

  8. IPO-bound Pine Labs gets $100 Mn from Invesco Developing Markets Fund Link

  9. ‘At EaseMyTrip, we are glad to be completely bootstrapped’ Link

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

Share this post

1947 Tech 🇮🇳: 170

1947tech.substack.com
Comments
TopNewCommunity

No posts

Ready for more?

© 2023 Shiva Singh Sangwan
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing