1. Deals Analysis
March 24, 2021

Technology industry cross border venture financing deals total $565.93m in India in February 2021

By Carmen

Total technology industry cross border venture financing deals worth $565.93m were announced in India in February 2021, led by $120.21m venture financing of ZetwerkLtd., according to GlobalData’s deals database.

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The value marked an increase of 44.9% over the previous month of $390.52m and a rise of 155.3% when compared with the last 12-month average of $221.65m.

India held a 12.07% share of the global technology industry cross border venture financing deal value that totalled $4.69bn in February 2021.

In terms of cross border venture financing deal activity, India recorded 28 deals during February 2021, marking an increase of 33.33% over the previous month and a rise of 64.71% over the 12-month average.

India technology industry cross border venture financing deals in February 2021: Top deals

The top five technology industry cross border venture financing deals accounted for 78.1% of the overall value during February 2021.

The combined value of the top five technology cross border venture financing deals stood at $442.21m, against the overall value of $565.93m recorded for the month.

The top five technology industry cross border venture financing deals of February 2021 tracked by GlobalData were:

1) Greenoaks Capital Management, Kae Capital ManagementLtd., Lightspeed Management Company and Sequoia Capital India’s $120.21m venture financing of ZetwerkLtd.

2) The $100m venture financing of Verse Innovation by Glade Brook Capital Partners and Qatar Investment Authority

3) Accel Partners (India), Evolvence India Fund II, Fundamental Capital, Nexus Venture Partners, Sistema Asia Fund and Tiger Global Management’s $100m venture financing of Hella Infra Market

4) The $95m venture financing of Galactus Funware Technology by Base Partners, Composite Capital Management, Founders Circle Capital, Go-Ventures, Moore Strategic Ventures, Play Ventures, RTP Global – UK, SIG and Telstra Ventures

5) Bertelsmann India Investments, March Capital and Tribe Capital’s venture financing of Shiprocket for $27m.

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals 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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