Total technology industry venture financing deals in Q3 2019 worth $1.04bn were announced in India, according to GlobalData’s deals database.

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The value marked an increase of 75.4% over the previous quarter and a drop of 13.3% when compared with the last four-quarter average of $1.2bn.

India held a 4.2% share of the global technology industry venture financing deal value that totalled $24.97bn in Q3 2019.

In terms of deal activity, India recorded 114 deals during Q3 2019, marking a drop of 4.2% over the previous quarter and a drop of 3.4% over the last four-quarter average.

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India technology industry venture financing deals in Q3 2019: Top deals

The top five technology industry venture financing deals accounted for 54.7% of the overall value during Q3 2019.

The combined value of the top five technology venture financing deals stood at $568m, against the overall value of $1.04bn recorded for the month.

The top five technology industry deals of Q3 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

3) Lightspeed India Partners and Tiger Global Management’s $67m venture financing of Psi Phi Global Solutions(OKCredit)

4) The $51m venture financing of Uniphore Software Systems by IDG Ventures India, Iron Pillar, March Capital Partners, National Grid Partners, Patni Wealth Advisors, Sistema Asia Fund and The CXO Fund

5) Accel, Falcon Edge Capital, Matrix Partners and Sequoia Capital Operations’ venture financing of Stanza Living for $50m.

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.