1947 Tech 🇮🇳: 86

Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India

1. 25th: Rivigo becomes Unicorn as its valuation crosses $1.05 Bn

Here comes the 25th unicorn.

What a time to be in India. Both for the company builders and the company enablers.

Founders and early employees at these 25 companies will fund their co-workers.

These co-workers will utilize the mentorship + experience they gained to build new massive tech companies.

Early employees at these companies will start startups at some point in the future.

Rivigo becomes Unicorn as its valuation crosses $1.05 Bn

2. Indian startups need global growth-stage investors to scale: GGV Capital’s Hans Tung

Welcome to India, GGV capital.

GGV, which has been evaluating India from the sidelines since 2014, recently invested in B2B marketplace Udaan and is likely to back Khatabook, an app for SMEs to record and track business transactions. “With GST, UPI and Jio penetration, the time is right to be in India,” Hans said.

There is no company from China that is doing what Oyo is doing on a global basis. Also, Oyo’s scale up from India happened at a much faster pace than ByteDance or Xiaomi did in China,” Tung 

Go-global from day one! SEA, MENA, and Africa regions will seek inspiration from Indian founders.

Indian startups need global growth-stage investors to scale: GGV Capital’s Hans Tung 

3. Ribbit leads $21M funding round in Groww

Welcome to India, Ribbit Capital.

• Groww 

• PolicyBazaar 

•  Capital Float 

• Razorpay 

• ZestMoney

•  Cred 

• BharatPe

These are the investments that they have made in the past 9 months. They are busy, so let’s not disturb them. 

They are loving India and Indian founders/tech ecosystem loves them as well. Great match.

Ribbit leads $21M funding round in Groww 

4. Worth reading:

1. Chinese VC Money Pours Into IndiaLink

2. Lee Fixel sets sights on Indian startups again, may invest $1 billion Link

3. India remains the No 1 focus for Naspers: Group CEO Bob van Dijk Link

4. Newly launched Avataar Venture Partners to invest $300M in B2B and SaaS cos Link

A week in review

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