Photo credit: Trocaire.
Investors are still interested in India but their tastes are getting more fine-tuned.
The biggest deals this year were closed by grocery delivery startup BigBasket and classifieds car marketplace CarTrade, according to data from the Tech in Asia database.
Other big rounds include Flipkart-owned fashion ecommerce store Myntra raising US$50 million in a series F, and food delivery startup Swiggy’s series C round of US$35 million.
Fintech startups closed 40 deals in the first half of 2016. It’s higher than the 31 deals that were closed during the first half of 2015. The money that flowed in was less, though.
Data from the second half of last year is a bit skewed by e-wallet PayTM’s gigantic US$890 million round. During the first half of 2016, the biggest fintech deal was closed by e-wallet Mobikwik with a series C round of US$50 million. Next up were peer-to-peer lender Lendingkart with US$32 million and small and medium business lender Capital Float with a US$25 million round. Other fintech trends also gained popularity, like startups that collect public data to create credit scores.
Another popular trend in India is ecommerce, and investors aren’t ready to quit yet. 98 deals were closed in the first half of 2016 – 99 were closed in the first half of 2015.
Deals were in a different direction, though, toward more niche ecommerce sites. The highest ecommerce round so far this year was a US$60 million investment in eyewear online store LensKart.
Seed stage focus
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
