1947 Tech 🇮🇳: 90
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Democratization: Introducing Angel Funds for India
Venture capitalists are paid to invest in most ambitious and creative founders, founders who are working on ideas that would disrupt old industries, old ideas and old ways of doing something.
But who is disrupting Venture Capital?
No brainer: One of them is AngelList.
Probably one of the best events that have happened to India this year and would eventually foster the entire startup ecosystem in India further, is mentioned below.
This will unlock more capital for startups and will give an opportunity to founders/operators and professional angels to write larger and faster cheques.
AngelList India is looking to enable early-stage investing in India by helping startups raise capital as efficiently as possible, empowering angels to write larger and faster cheques and give new angel investors access to the most competitive deals.
Disclaimer: I’m an employee of AngelList India.
2. Long India: Tencent ramping up India play with early-stage bets
China’s internet major Tencent, best known for owning messaging application WeChat, is in talks to back at least two early startups in the country as it ramps up its investment in India.
Doubtnut & Pratilipi.
Tencent has already made early-stage bets on neo-banking startup Niyo and Khatabook this year.
Tencent loves India and I’m sure India will take care of Tencent.
Just in 2019, they have written $100M+ cheques to 3 companies — Policybazaar, MX player and Udaan.
3. India has potential to create more than 100 unicorns by 2025, says Nasscom report
Home to more than 9,000 technology startups, India has the potential to create more than 100 unicorns — private companies with a valuation of $1 billion and above — in the next five years, according to industry body Nasscom.
The National Association of Software and Services Companies (NASSCOM) in its report — Indian Tech Startup Ecosystem — Leading tech in the 20s, stated that by 2025 it is expected that the country will have around 95–105 unicorns, enjoying a cumulative valuation of $350–390 billion.
4. Worth reading:
Policybazaar raises $150M from Tencent to start newer financial services verticals Link
Freshworks valuation soars 3.5X in 15 months with $150 Mn fresh round. Link
Global setbacks put SoftBank’s investment plans in India at risk. Link
Travis Kalanick readies recipe for India cloud kitchen foray. Link