1. Deals Analysis
February 21, 2021

India’s technology industry sees a drop of 30.88% in deal activity in January 2021

By Carmen

India’s technology industry saw a drop of 30.88% in overall deal activity during January 2021, when compared with the last 12-month average, led by Altimeter Capital Management, DST Global, GGV Capital, Lightspeed Management Company, Moonstone Capital Partners, Octahedron Capital Management and Tencent Holdings’ $280m venture financing of Udaan.com, according to GlobalData’s deals database.

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A total of 47 deals worth $442.27m were announced in January 2021, compared with the 12-month average of 68 deals.

venture financing was the leading category in the month in terms of volume with 34 deals, which accounted for 72.3% of all deals.

In second place was M&A with 12 deals, followed by private equity with one transactions, respectively accounting for 25.5% and 2.1% of overall deal activity in the India’s technology industry during the month.

In terms of value of deals, venture financing was the leading deal category in India’s technology industry with total deals worth $439.95m, followed by M&A deals totalled $2.33m.

India technology industry deals in January 2021: Top deals

The top five technology industry deals accounted for 81.6% of the overall value during January 2021.

The combined value of the top five technology deals stood at $361m, against the overall value of $442.27m recorded for the month.

The top five technology industry deals of January 2021 tracked by GlobalData were:

1) Altimeter Capital Management, DST Global, GGV Capital, Lightspeed Management Company, Moonstone Capital Partners, Octahedron Capital Management and Tencent Holdings’ $280m venture financing of Udaan.com

2) The $30m venture financing of Green AgrevolutionLtd. by AgFunder, FMO, Omnivore Partners, Prosus Ventures and Sequoia Capital India

3) ABC World Asia, Ankur Capital Advisors, CDC Group, IDG Ventures India, Invested Development and Pratithi Investment Trust’s $20m venture financing of CropIn Technology SolutionsLtd

4) The $16m venture financing deal with NovoCura Tech Health Services by Alteria Capital Advisors, Beenext, Heritas Capital Management, SBI Investment, SBI Ven Capital and Y’S Investment

5) Lightspeed India Partners, Salesforce Ventures and Sequoia Capital India’s venture financing with Darwinbox Digital Solutions for $15m.

Verdict deals analysis methodology

This analysis considers only announced and completed big data 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.

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