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1947 Tech 🇮🇳 : 58
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. These 50 Start-Ups May Be the Next ‘Unicorns’
CB Insights, a firm that tracks start-ups, analyzed a variety of data to create a list of 50 private companies around the world that are on a path to a $1 billion valuation.
Five are from India:
CarDekho Group: Offers online sales, financing and insurance for autos and education services
ClearTax: Makes software for filing taxes and managing investments
DailyHunt: A news and entertainment app
Practo Technologies: Connecting patients to health care providers using tech
Razorpay: Provides payments technology to online merchants
2. Number of Startups in India grew 7X to 50K in a decade : KPMG report
At the beginning of the second month of 2019, KPMG has released the latest report on the Indian startup ecosystem. It states that the number of startups in the country has gone up from 7,000 in 2008 to 50,000 in 2018.
This is 7.14X jump taken by the number of fledgling enterprises in the country that is backed by the explosion in the internet space, better literacy rates and exposure to the knowledge of entrepreneurship beyond the boundaries of the country.
3. Stripe, a $23 billion startup, eyes India amidst waning globalisation
Collison said the company is eyeing India. Stripe has been testing the product with customers in India for about a year, and the world’s second-most-populous country is expected to generate more e-commerce growth in the future. However, local regulations pose obstacles to a nationwide rollout.
4. A big round of funding: BigBasket valuation will touch $1B with entry of new investors CDC, Mirae — ETtech
Grocery e-tailer BigBasket is closing a new $150-million round that will catapult its pre-money valuation to $1 billion.
Existing backer Alibaba is leading the latest fund raise, while new investors UK government-owned CDC Group and South Korea’s Mirae Asset Global Investments are also participating.