1947 Tech 🇮🇳: 204
1947 Tech 🇮🇳: 204
Lightspeed India and Axilor announced new funds || Tiger is slowing down!
1. Startup funding in India plummeted by 33% to $6.9 billion in Q2: Report
Venture funding for the Indian startup ecosystem plummeted by a staggering 33% to $6.9 billion in the April-June quarter (Q2) from $10.3 billion in the first quarter (Q1) of this calendar year, according to a report from Tracxn Technologies.
According to the data intelligence platform’s report, 121 new firms completed their first funding rounds in Q2, four startups became unicorns, 62 startups were acquired, and five startups filed for an initial public offering (IPO).
“Though investors are a little wary due to the current environment, it hasn’t dampened the investment spirit of the community. They have become more decisive about the startups they want to nurture and are focusing extensively on a long-term perspective,” said Abhishek Goyal, cofounder, Tracxn.
Startup funding in India plummeted by 33% to $6.9 billion in Q2: Report
2. Tiger Global to slow startup investments for two quarters, eyes new fund later this year
Tiger Global, one of the biggest winners from the technology bull market, plans to decelerate the pace of its investments in startups for two quarters, the latest in a series of high-profile investors becoming cautious as the market embraces a downturn.
The New York-headquartered firm — which invested in 361 deals in 2021, according to PitchBook — is evaluating the market conditions and plans to limit the number of new checks it writes til December, Tiger Global partner Alex Cook told founders recently, according to sources familiar with those conversations.
Cook met several founders during his visit to Bengaluru earlier this month, offering advice and assuaging market concerns about the firm’s recent performance. Cook also assured that Tiger Global is sitting on dry powder in “billions” and will continue to back “best internet-enabled” startups, the sources said.
Cook told founders that the firm is bullish on identifying and supporting early-stage startups and will continue to back such deals in the future, the sources said.
Tiger Global to slow startup investments for two quarters, eyes new fund later this year
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Worth your attention:
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Mobile-based point-of-sale startup QueueBuster raises $8.16 million led by Chiratae Ventures Link
Axilor launches second fund of $100-million Link
India’s e-commerce market size to reach $120 billion by 2026: Report Link
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