1947 Tech 🇮🇳: 175
Tiger Global, PayTm IPO and more!
1. How Tiger Global and SoftBank powered Indian startups to turn unicorns
Tiger Global and SoftBank have emerged as unicorn makers of the season. Collectively, the two investment behemoths are the backers of 19 out of the 33 startups that have attained unicorn status in 2021 so far.
In terms of the number of deals, Tiger Global has invested in around 28 startups such as CRED, Vedantu, PharmEasy, BharatPe, Gupshup, ShareChat and others. Among them, 50% or 14 have turned unicorns whereas a couple of them are in the process of raising their new round at over $1 billion valuation — ‘soonicorns’ in startup parlance.
How Tiger Global and SoftBank powered Indian startups to turn unicorns
2. Paytm gets Sebi nod for ₹16,600 crore IPO
The stage is set for India’s biggest initial public offering (IPO), with the markets regulator approving the share sale by fintech giant One97 Communications Ltd, owner of the Paytm app.
The Securities and Exchange Board of India (Sebi) has cleared the Noida-based digital payments company’s ₹16,600 crore (roughly $2.2 billion) IPO, three people aware of the development confirmed.
Led by founder and chief executive Vijay Shekhar Sharma, the 11-year-old Paytm has expanded beyond digital payments into newer categories of lending, gaming, wealth management, financial services and digital commerce.
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Worth your attention:
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Teachmint raises $78 Mn in Series B at a valuation of $500 Mn Link
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Byju’s looks to raise $500 million debt Link
Indian edtech Teachmint valued at $500 million in $78 million funding Link
Jio to join Dunzo’s fund-raising party Link