1947 Tech: Week 39
A few good articles and tweets that I came across this week..
1. It’s raining unicorns in India: Byju’s Raises Fresh $100 Mn from General Atlantic at New Valuation of $2 Bn
India’s largest education technology company Byju’s, which is reinventing how students learn through mobile app, has raised a fresh $100 million in a funding from private equity player General Atlantic India for a 5% stake in the startup
Founded in 2008, by Byju Raveendran and Divya Gokulnath, BYJU’S has raised a total of $344 million in funding over eight rounds including this one. Prior to this, the startup had raised $40 million from Tencent Holdings
In May this year, Byju’s claimed that it is one of the few India-based billion-dollar startups that has become profitable.
Byju's Raises Fresh $100 Mn from General Atlantic at New Valuation of $2 Bn
India's largest education technology company Byju's, which is reinventing how students learn through mobile app, has…www.indianweb2.com
2. Big Round: India’s Mobile Internet Revolution and ShareChat’s $100M Series C.
While most people are focused on China’s internet economy and the real and massive growth there, India has quietly gone through a similar revolution of its own.
The converging trends of increasing smartphone use, wireless internet connectivity, and cashless banking have now put India at an inflection point.
One company that has leveraged this trend in India is ShareChat. ShareChat launched in October 2015 and Lightspeed initially invested and led the Series A in November 2016. At that time, the product had one million monthly active users (MAUs). Today, it has 25 million MAUs.
3. 50 startups raised $100 million +: Investors add $6.9 billion fuel to India’s startup engine in 2018
Risk capital investors have plowed in over ($6.9 billion) into India’s fastest growing startups this year as they jostle to back winners in one of the world’s most dynamic entrepreneurial hubs.
The bulk of the capital — nearly 85%, or about $6 billion — has gone into companies in the high growth stage, referred to as Series B deals in industry parlance
Nearly 50 startups, including Swiggy, Zomato, PolicyBazaar, GreyOrange and Udaan, are among those which have soaked up mega cheques of over $100 million apiece.
Investors add Rs 50k cr fuel to India's startup engine in 2018 - ETtech
Risk capital investors have ploughed in over Rs 50,000 crore ($6.9 billion) into India's fastest growing startups this…tech.economictimes.indiatimes.com
4. Pinterest shows interest in India: Pinterest eyes India, SE Asia for global expansion
India and Southeast Asia are next on the radar for Pinterest, which allows users to create virtual pinboards, as it starts further pushing its international expansion.
The San Francisco-based unicorn, valued at over $12 billion, has 250 million monthly active users, half of them outside the US. About 80% of its new users are from international markets.
“Last few years, we have focused on South America, Western Europe and a bit on Japan. This year we are increasingly thinking about Southeast Asia, India and other parts of the world we haven’t serviced,” co-founder Evan Sharp told ET, when asked about the company’s plans to expand into India.
Pinterest eyes India, SE Asia for global expansion - ETtech
India and Southeast Asia are next on the radar for Pinterest, which allows users to create virtual pinboards, as it…tech.economictimes.indiatimes.com
EtsyIndia is coming to Mumbai, come say hi!
Deepak Shahdapuri is someone I would listen to when looking at consumer market in India. Kishore gives great insights into what would the future of retail in India look like.