Total technology industry venture financing deals in Q4 2018 worth $1.76bn were announced in India, according to GlobalData’s deals database.

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The value marked an increase of 63.4% over the previous quarter and a rise of 176.4% when compared with the last four-quarter average of $638.98m.

India held a 5.2% share of the global technology industry venture financing deal value that totalled $34.18bn in Q4 2018.

In terms of deal activity, India recorded 110 deals during Q4 2018, marking a drop of 6.8% over the previous quarter and a drop of 12% over the last four-quarter average.

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By GlobalData

India technology industry venture financing deals in Q4 2018: Top deals

The top five technology industry venture financing deals accounted for 72.2% of the overall value during Q4 2018.

The combined value of the top five technology industry venture financing deals stood at $1.28bn, against the overall value of $1.76bn recorded for the quarter. The top announced technology industry venture financing deal tracked by GlobalData in Q4 2018 was Coatue Management, DST Global, Hillhouse Capital Group, Meituan Dianping, Naspers, Tencent Holdings and Wellington ManagementLLP’s $1bn venture financing of Bundl Technologies.

In second place was the $100m venture financing of Oravel Stays by A1 Holdings and in third place was Dentsu, HDFC Bank, Hillhouse Capital Group, Ratan Tata, Times Internet and Tybourne Capital Management (HK)’s $75m venture financing of Girnar Software.

The $50m venture financing of Fashnear Technologies by DST Global, RPS Ventures, SAIF Partners, Sequoia India, Shunwei Capital Partners, Venture Highway and Y Combinator and Steadview Capital and VY Capital’s venture financing of UrbanClap Technologies India for $50m held fourth and fifth positions, respectively.

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.

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.