1. Deals Analysis
February 21, 2021updated 27 Oct 2021 10:10am

India’s technology industry sees a drop of 4.35% in cross border deal activity in January 2021

By Carmen

India’s technology industry saw a drop of 4.35% in overall cross border 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 22 cross border deals worth $390.37m were announced in January 2021, compared with the 12-month average of 23 deals.

venture financing was the leading category in the month in terms of volume with 18 deals, which accounted for 81.8% of all cross border deals.

In second place was M&A with three cross border deals, followed by private equity with one transactions, respectively accounting for 13.6% and 4.6% of overall deal activity in the India’s technology industry during the month.

In terms of value of cross border deals, venture financing was the leading deal category in India’s technology industry with total deals worth $390.37m.

India technology industry cross border deals in January 2021: Top deals

The top five technology industry cross border deals accounted for 91.2% of the overall value during January 2021.

The combined value of the top five technology cross border deals stood at $356m, against the overall value of $390.37m recorded for the month.

The top five technology industry cross border 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) Matrix Partners India and WestCap Partners’ venture financing with Indipepper Media for $10m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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