India’s technology industry saw a rise of 18.9% in overall deal activity during August 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 63 deals worth $574.05m were announced in August 2019, compared to the 12-month average of 53 deals.

Venture financing was the leading category in the month in terms of volume with 40 deals which accounted for 63.5% of all deals.

In second place was M&A with 22 deals, followed by private equity with one transactions, respectively accounting for 34.9% and 1.6% of overall deal activity in the country’s technology industry during the month.

In terms of value of deals, M&A was the leading deal category in India’s technology industry with total deals worth $524.26m, followed by venture financing and private equity deals totalled $49.47m and $0.32m, respectively.

India technology industry deals in August 2019: Top deals

The top five technology industry deals accounted for 89.7% of the overall value during August 2019.

The combined value of the top five technology deals stood at $514.72m, against the overall value of $574.05m recorded for the month.

The top five technology industry deals of August 2019 tracked by GlobalData were:

1) Altimeter Capital Management, DST Global, Footpath Ventures, GGV Capital, Hillhouse Capital Group and Lightspeed Venture Partners’ $300m venture financing of Udaan.com

2) The $100m venture financing of Mohalla Tech by India Quotient, Lightspeed Management Company, Morningside Venture Capital, Saif Capital, Shunwei Capital Partners, TrustBridge Partners and Twitter

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3) Reliance Industrial Investments and’s $42.72m acquisition of Shopsense Retail Technologies

4) The $42m venture financing of Vedantu Innovations by Accel, Omidyar Network Services, TAL Education Group, Tiger Global Management and WestBridge Capital

5) Trifecta Capital and Westbridge Capital’s venture financing of Vedantu Innovations for $30m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.