1. Deals Analysis
June 30, 2021

Technology industry venture financing deals total $510.9m in India in May 2021

By Carmen

Total technology industry venture financing deals worth $510.9m were announced in India in May 2021, led by $285m venture financing of Pine Labs, according to GlobalData’s deals database.

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The value marked a decrease of 72.5% over the previous month of $1.86bn and a drop of 16.3% when compared with the last 12-month average of $610.35m.

India held a 2.52% share of the global technology industry venture financing deal value that totalled $20.25bn in May 2021.

In terms of venture financing deal activity, India recorded 69 deals during May 2021, marking an increase of 18.97% over the previous month and a rise of 27.78% over the 12-month average.

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

The top five technology industry venture financing deals accounted for 89.1% of the overall value during May 2021.

The combined value of the top five technology venture financing deals stood at $455m, against the overall value of $510.9m recorded for the month.

The top five technology industry venture financing deals of May 2021 tracked by GlobalData were:

1) Baron Capital Group, Duro Capital (Singapore) Advisors, Lone Pine Capital, Marshall Wace, Moore Strategic Ventures, Sunley House Capital Management, Temasek Holdings (Private) and Ward Ferry Management’s $285m venture financing of Pine Labs

2) The $100m venture financing of RoboticWares by Dragoneer Investment Group, Eight Roads Ventures, Fundamentum, Honeywell Ventures Capital and TCV

3) 3ONE4 Capital Partners, Accel, Blume Ventures, Dream Incubator, IIFL Seed Ventures Fund, Kalaari Capital Advisors, Mirae Asset Global Investments and Tiger Global Management’s $30m venture financing of Bombinate Technologies

4) The $25m venture financing of Vernacular.ai by WestBridge Capital Partners

5) Evolvence India Fund II and Sistema Asia Fund’s venture financing of ANSR Consulting India 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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