Total technology industry venture financing deals in Q2 2019 worth $575.68m were announced in India, according to GlobalData’s deals database.
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The value marked a decrease of 37.8% over the previous quarter and a drop of 50.9% when compared with the last four-quarter average of $1.17bn.
India held a 2.3% share of the global technology industry venture financing deal value that totalled $24.98bn in Q2 2019.
In terms of deal activity, India recorded 114 deals during Q2 2019, marking a drop of 1.7% over the previous quarter and a drop of 1.7% over the last four-quarter average.
India technology industry venture financing deals in Q2 2019: Top deals
The top five technology industry venture financing deals accounted for 48.5% of the overall value during Q2 2019.
The combined value of the top five technology industry venture financing deals stood at $279m, against the overall value of $575.68m recorded for the quarter. The top announced technology industry venture financing deal tracked by GlobalData in Q2 2019 was Alibaba Group Holding’s $100m venture financing of VMate.
In second place was the $72m venture financing of WickedRide Adventure Services by 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 and in third place was Charles River Ventures and Nexus Venture Partners’ $50m venture financing of Postdot Technologies.
The $35.5m venture financing of Galactus Funware Technology by Base Partners, Beenext, Go-Ventures, RTP Global, Sequoia Capital India, Times Internet and Venture Highway and Raghav Bahl’s venture financing of Quintillion Media for $21.5m 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.
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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.