1. Deals Analysis
February 21, 2021

Technology industry venture financing deals total $439.95m in India in January 2021

By Carmen

Total technology industry venture financing deals worth $439.95m were announced in India in January 2021, led by $280m venture financing of Udaan.com, according to GlobalData’s deals database.

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The value marked a decrease of 32.05% over the previous month of $647.47m and a rise of 33.5% when compared with the last 12-month average of $329.51m.

India held a 3.07% share of the global technology industry venture financing deal value that totalled $14.35bn in January 2021.

In terms of venture financing deal activity, India recorded 34 deals during January 2021, marking a decrease of 47.69% over the previous month and a drop of 30.61% over the 12-month average.

India technology industry venture financing deals in January 2021: Top deals

The top five technology industry venture financing deals accounted for 82.05% of the overall value during January 2021.

The combined value of the top five technology venture financing deals stood at $361m, against the overall value of $439.95m recorded for the month.

The top five technology industry venture financing 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 of 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 of Darwinbox Digital Solutions for $15m.

Verdict deals analysis methodology

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.

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