India

The Bengaluru-based early-stage VC backs consumer brands that target India’s 9 million high-income households.

FirstCry has emerged as one of the biggest players in baby and mother care segment in the world’s second-most populous country.

Naspers-backed food tech major Swiggy—one of the first Indian food delivery companies that was betting big on cloud kitchen—had to shut and relocate many of its non-profitable cloud kitchens in April.

Four-year-old Udaan, which connects small and medium-sized retailers with manufacturers became one of the fastest startups to achieve unicorn status in September 2018.

The startup clocked USD 68.4 million (INR 5 billion) in revenues in FY 2020 and is on track to double it by FY24.

BharatPe plans to raise USD 500-700 million in venture debt over the next two years.

The increase of losses can be ascribed to the two-month-long lockdown in the country that followed by restaurant closure.

While ShareChat would be Snap’s first investment in the Indian startup ecosystem, for Google, the deal would mean backing third short video app from India after Josh and Roposo.