Eight leading venture capital and private equity firms from the U.S. and India have formed the India Deep Tech Investment Alliance, pledging over $1 billion in private capital over the next decade to support Indian deep tech startups and strengthen bilateral tech ties. It is chaired by my friend Arun...
India’s Bizongo Secures Funding from LA investor, others
Bizongo, an AI-powered B2B e-commerce platform, announced the appointment of Prahlad Krishnamurthi as its new Chief Executive Officer, effective immediately. Krishnamurthi replaces company founder Sachin Agrawal, who will remain on the board while the new CEO takes over operational leadership. The Bangalore-headquartered company has simultaneously secured $4.5 million in additional...
Walmart Buys Out Tiger Global’s Stake in India’s Flipkart
Walmart paid $1.4 billion to buy out hedge fund Tiger Global’s remaining holding of Flipkart shares as the retail giant further expands its stake in the Indian e-commerce startup. Besides Tiger Global, Flipkart co-founder Binny Bansal along with Palo Alto, CA-based private equity firm Accel, one of the earliest investors...
Accel Partners raises $550 million India Fund
US-based venture capital firm Accel Partners has raised $550 million for its sixth India fund as it seeks to ramp up its investments in the country’s booming startup ecosystem. The latest fundraise topped the $450 million Accel raised for its fifth India fund in late 2016. Accel Partners India currently...
Food Delivery Startup Raises from New York's Harmony
Swiggy, a food ordering and delivery startup based out of Bangalore, India, raised $35 million in a Series C round of funding. The company attracted two new investors, New York-based venture capital firm Harmony Partners Ltd., and Singapore-headquartered venture capital firm RB Investments Pte. Ltd. Existing investors Norwest, SAIF and...
India: Fourth Largest Hub for Startups
According to the Ministry of Finance's Economy Survey 2014-15, India is becoming the world’s fourth largest center for venture and angel funded startup businesses. The country's technology sector is fueling this growth especially in the online space, where 240 million Indians now have internet access, according to research group IMRB...