1947 Tech 🇮🇳: 173

Booming Indian tech ecosystem!

1. CarDekho drives into unicorn club after $250 mn fundraise

Girnar Software Pvt. Ltd, which runs CarDekho, an online portal for new and used cars, has raised $250 million as a part of its latest Series E fundraising at a valuation of about $1.2 billion, making it the newest entrant to India’s growing list of unicorns, two people aware of the matter said on Tuesday.

The funding round was led by private investment firm LeapFrog Investments, with participation from South Korea’s Mirae Asset Group and existing investors, the people said, requesting anonymity.

CarDekho drives into unicorn club after $250 mn fundraise

2. ‘Freshworks is potentially the top Indian investment for Accel, Tiger’

Freshworks Inc. created history last month by becoming the first software-as-a-service (SaaS) startup from India to list on Nasdaq, making it one of the proudest moments for the Indian startup ecosystem. The company raised more than $1 billion through its public offering, giving it a more than four-fold rise in its valuation at a little more than $13 billion (about ₹97,790 crore).

For Accel and Tiger Global, we have possibly clocked the largest value of returns, bigger than Flipkart as well. For them, we are the top investment in India (by returns). Our investors are supremely happy, CEO.

‘Freshworks is potentially the top Indian investment for Accel, Tiger’

A tweet:

Manish Singh @refsrc

Funding activity in India was at an all-time high in Q3, per CB Insights' new report.

Worth your attention:

1. Google and Temasek back Indian neobank Open in $100 million funding Link

2. Ola Electric raises $200 mn at over $5 bn valuation: Sources Link

3. Tiger Global in talks to lead over $100M investment in India’s Slice Link

4. Tiger Global leads $35 Mn round in M2P Fintech Link

5. MobiKwik is now a unicorn as staffers exercise Esop option Link

6. Graphy acquires edtech startup Spayee for $25 million Link

7. ReshaMandi raises $30 million in Series A funding Link

8. Students hop on to the cryptocurrency bandwagon Link

9. Sharechat in talks to buy MX TakaTak Link

10. Policybazaar parent’s healthtech unit Docprime invests $7.5 mn in Visit Health Link

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