India had technology start-up deals of $6.3 billion in the second quarter. In the fourth quarter, China-based company’s funding dropped to 18% from $27.7 billion.
With backing from Morgan Stanley, Tiger Global and Fidelity Investments, the Food-delivery app Zomato raised $1.3 billion, whereas, Paytm digital payments start-up has a draft prospectus that it could be India’s biggest IPO at $2.2 billion.
Also, $3.6 billion at a $38 billion valuation raised by an Indian start-up Flipkart Online Services Pvt. Ltd.
The Silicon Valley-based Managing Partner of GGV Capital, Hans Tung said “In India, Investors are beginning to see the huge upside and expect India to be next China”.
“From last decade entrepreneurs in India have been building start-ups and the country’s internet infrastructure has improved a lot,” he added.
