India’s technology industry saw a drop of 32.1% in overall deal activity during June 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 38 deals worth $244.31m were announced in June 2019, compared to the 12-month average of 56 deals.
Venture financing was the leading category in the month in terms of volume with 31 deals which accounted for 81.6% of all deals.
In second place was M&A with six deals, followed by private equity with one transactions, respectively accounting for 15.8% and 2.6% of overall deal activity in the country’s technology industry during the month.
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In terms of value of deals, M&A was the leading deal category in India’s technology industry with total deals worth $233.48m, while venture financing and private equity deals totalled $10m and $0.83m, respectively.
India technology industry deals in June 2019: Top deals
The top five technology industry deals accounted for 72.1% of the overall value during June 2019.
The combined value of the top five technology industry deals stood at $176.24m, against the overall value of $244.31m recorded for the month. The top announced India technology industry deal tracked by GlobalData in June 2019 was Accel India Management Co.Ltd, Accel, B Capital Group Management, Chiratae Ventures, Falcon Edge Capital, Maverick Capital Ventures, Omidyar Network India Advisors, Qualcomm Ventures and Sequoia Capital’s $72m venture financing of WickedRide Adventure Services.
In second place was the $50m venture financing of Postdot Technologies by Charles River Ventures and Nexus Venture Partners and in third place was Raghav Bahl’s $21.5m venture financing of Quintillion Media.
The $17.24m venture financing of Practo Technologies by Trifecta Capital Advisors and Lightspeed India Partners, Morningside Venture Capital, Tiger Global Management, Venture Highway and Y Combinator’s venture financing of Psi Phi Global Solutions (OKCredit) for $15.5m held fourth and fifth positions, respectively.
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.