India’s technology industry venture financing deals in March 2019 saw a rise of 7.9% over the last 12-month average, according to GlobalData’s deals database.

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The industry observed 41 venture financing deals during the month when compared with the 12-month average of 38 deals. On comparison with the previous month, it recorded an increase of 78.3% in March 2019.

Total venture financing deals worth $273.28m were announced in technology industry in India during March 2019.

The value marked an increase of 29.8% over the previous month and a drop of 14.8% when compared with the last 12-month average, which was $320.68m.

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By GlobalData

India’s venture financing deal activity in the technology industry during March 2019 held a 4.8% share of the industry’s global venture financing deal activity and a 2.8% share in terms of deal value.

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

The top five technology venture financing deals accounted for 73.01% of the overall value during March 2019.

The combined value of the top five technology venture financing deals stood at $199.52m, against the overall value of $273.28m recorded for the month. The top announced India technology venture financing deal tracked by GlobalData in March 2019 was SoftBank Group’s $100m venture financing of 91streets Media Technologies.

In second place was the $43.56m venture financing of Zinka Logistics Solutions by B Capital Group Management and The Goldman Sachs Group and in third place was Aavishkaar Bharat Fund, Accel ManagementInc, Bertelsmann India Investments and IDG Ventures India Advisors’ $27m venture financing of AgroStar.

The $15.8m venture financing of Vivriti Capital by Creation Investments Capital Management and Cisco Investments, Eight Road Ventures, F Prime Capital, Helion Venture Partners and Stellaris Venture Partners’ venture financing of Quicko TechnoSoft Labs for $13.17m 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. 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.