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<keyword id="212412" type="COMPANY" weightage="20" keywordseo="Tencent">Tencent</keyword>, <keyword id="6357395" type="CITY" weightage="20" keywordseo="eBay">eBay</keyword>, and <keyword id="10387" type="CITY" weightage="100" keywordseo="Microsoft">Microsoft</keyword> have made investments aggregating to $1.4 billion in <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>, India’s leading online marketplace. The latest funding round from the three global technology giants, at a post-transaction valuation of $11.6 billion, adds to an existing group of marquee investors that include Tiger Global Management, Naspers Group, Accel Partners and DST Global. 
 
Flipkart announced the feat in a blog post. 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Proud to announce the largest investment in <a href="https://twitter.com/Flipkart">@Flipkart</a> history ! <a href="https://t.co/ktwy39H3WW">https://t.co/ktwy39H3WW</a> <a href="https://twitter.com/TencentCorp">@TencentCorp</a> <a href="https://twitter.com/eBay">@eBay</a> <a href="https://twitter.com/Microsoft">@Microsoft</a> <a href="https://twitter.com/hashtag/FlipkartBigWin?src=hash">#FlipkartBigWin</a>
	— binnybansal (@binnybansal) <a href="https://twitter.com/binnybansal/status/851364335268057088">April 10, </a></blockquote>
<blockquote class="twitter-tweet" data-lang="en">
	&#xa0;</blockquote>
Tencent, a leading provider of internet value-added services in China, joins as a strategic investor, bringing experience in linking social networking and e-commerce. Tencent will lend significant expertise to Flipkart as it furthers its leadership position across the e-commerce market in India. 
 
<a href="http://www.businessinsider.in/exclusive-an-angel-investor-whose-midas-touch-with-crypto-currency-is-redefining-the-future-of-start-up-investments/articleshow/58062121.cms">ALSO READ: Exclusive: An Angel investor whose Midas touch with Crypto-currency is redefining the future of start-up investments</a> 
 
“This strategic partnership enables Tencent to participate in the exciting opportunities in e-commerce and payments in India. We look forward to helping Flipkart to deliver compelling experiences to users throughout India, and to contribute to the development of the internet ecosystem there,” said Martin Lau, Tencent President. 
 
<keyword id="161767" type="COMPANY" weightage="20" keywordseo="eBay-India">eBay India</keyword> is now part of the <keyword id="3515858" type="UNKNOWN" weightage="20" keywordseo="flipkart-group">Flipkart Group</keyword> 
 
The investment by eBay is accompanied by a strategic commercial agreement with Flipkart. In exchange for an equity stake in Flipkart, eBay is making a cash investment in and selling it's eBay.in business to Flipkart. eBay.in will continue to operate as an independent entity as a part of Flipkart. 
 
<a href="http://www.businessinsider.in/exclusive-ace-angel-investor-sanjay-mehtas-true-life-experiences-that-makes-his-investments-in-startups-fool-proof/articleshow/58061818.cms">ALSO READ: Exclusive: Ace Angel Investor Sanjay Mehta’s true-life experiences that make his investments in startups fool-proof</a> 
 
<keyword id="2969294" type="UNKNOWN" weightage="20" keywordseo="Flipkart-eBay">Flipkart eBay</keyword> “The combination of eBay’s position as a leading global e-commerce company and Flipkart’s market stature will allow us to accelerate and maximize the opportunity for both companies in India,” said <keyword id="375695" type="PERSON" weightage="20" keywordseo="Devin-Wenig">Devin Wenig</keyword>, President, and CEO of eBay Inc. 
 
Flipkart and eBay have also signed an exclusive cross-border trade agreement, as a result of which customers of Flipkart will gain access to the wide array of global inventory on eBay, while eBay’s customers will have access to unique Indian inventory provided by Flipkart sellers. Thus, sellers on Flipkart will now have an opportunity to expand their sales globally. 
 On its ten-year odyssey, the Flipkart Group has grown to encompass <keyword id="319719" type="COMPANY" weightage="20" keywordseo="Myntra">Myntra</keyword> and Jabong, India’s leading online fashion destinations, and PhonePe — the leading UPI-based app that provides a cashless and seamless payment experience. Flipkart’s success has also emboldened a generation of Indian startups and entrepreneurial ventures, fanning the zeal of entrepreneurs and attracting big investments in the sector.

Flipkart announces raising $1.4 billion from Tencent, eBay & Microsoft, and acquires eBay India

India just had the most investment-starved second quarter since 2013. The total value of deals is down by 62% from $6.1 billion from the same period last year to $2.2 billion in Q2 CY16, according to News Corp VCCEdge. 
 
On a half yearly basis, <a href="http://www.businessinsider.in/searchresult.cms?query=Private+equity&amp;sortorder=effectivedate">private equity</a> deals slipped as much as much as 46% in the first half of this year. Only 643 <keyword id="34499" type="POSITION" weightage="80" keywordseo="private-equity">Private equity</keyword> deals were cracked, worth over $5.8 billion. The deal volume also slipped by 13% from 737 deals last year. While the number of deals are up in Information Technology, the total value has come down a bit from last year. 
 
Interestingly, 2016 saw an uptake in <a href="http://www.businessinsider.in/searchresult.cms?query=angel+investments&amp;sortorder=effectivedate">angel investments</a>. Seed and <keyword id="1848628" type="UNKNOWN" weightage="80" keywordseo="angel-investments">Angel investments</keyword> grew by 16% to 368 deals in the January-June period this year from 317 deals a year ago. The total deal value, however slipped by 25% to $100 million from $134 million. This suggests risk aversion and more judicious funding calls by investors. 
 
Venture and late stage capital declined significantly. The figures are down by 55% in the first half of this year. The deal volume has also slipped 44%. 
 
The rush of capital for Indian startups began way back in 2014. <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> raised a whopping $1 billion in July 2014, and after Chinese e-commerce giant <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba&amp;sortorder=effectivedate">Alibaba</a> successfully listed its stock in the US markets, <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce+startups&amp;sortorder=effectivedate">e-commerce startups</a> across the world got a boost globally. <keyword id="163404" type="COMPANY" weightage="40" keywordseo="Softbank">SoftBank</keyword>, which benefited from Alibaba’s IPO lavished attention to what it thought were promising Indian startups. 
 
With a couple of failures, and the financial downturn, the mood has changed A handful of hedge funds are now making new investments. The global internet investors like <a href="http://www.businessinsider.in/searchresult.cms?query=Softbank&amp;sortorder=effectivedate">Softbank</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=DST+Global&amp;sortorder=effectivedate">DST Global</a> are however quieter. 
 
<a href="http://wallpapercave.com/wp/kFWtfAJ.jpg">Image Source</a>

India's Startups just had the worst second quarter since 2013

Bengaluru-based <keyword id="1165142" type="UNKNOWN" weightage="20" keywordseo="Practo">Practo</keyword>, which has been one of the first players to integrate IT and healthcare with their online practice management software to schedule appointments with doctors, is in advanced talks with global investors to raise funding of approximately Rs 400 crore. Two people directly aware of the plan told the Economic Times. 
 The financial daily stated that the Internet-based startup, which is backed by venture funds <keyword id="122716" type="CITY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> and Matrix Partners, could also lure more new investors in this round, which is slated to be one of the largest in the online healthcare segment globally. 
 
According to one of the sources, “The deal is expected to close in the next four to five weeks.” 
 
The ET report further stated, “The funding is aimed at extending Practo’s leadership in India and establishing it as a clear winner in a space that is becoming crowded.” 
 In 2014, startups like Lybrate, Ziffi and <keyword id="2890031" type="UNKNOWN" weightage="20" keywordseo="Qikwell">Qikwell</keyword> have raised money and they also compete with search firms such as Just Dial. Globally, New York-based ZocDoc is one of the most heavily funded startups in doctor-search space, having received up to $98 million from investors including Khosla Ventures and <keyword id="794823" type="COMPANY" weightage="20" keywordseo="DST-Global">DST Global</keyword>. 
 Practo — cofounded by CEO Shashank ND and technology chief Abhinav Lal, both engineers from the <keyword id="66379" type="ORGANIZATION" weightage="20" keywordseo="National-Institute-of-Technology">National Institute of Technology</keyword>, Surathkal— was estimated to be worth Rs 1,000 crore in its most recent round of fundraising in February, when it mopped up $30 million (Rs 189 crore) from Matrix Partners, Sequoia Capital and venture debt provider Inno-Ven Capital. And now, this latest round is expected to close at a “significant premium.” 
(Image: lemontreeexhibition.com)

​Practo seeks Rs 400 cr from global investors to expand its leadership in India

Some of the Indian startups such as <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword> have already made their mark in the industry in terms of gross revenue earnings. Now, cab aggregator <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> will soon be joining the league. The online cab aggregator might earn gross revenue of $1 billion (Rs 6,364 crore) by the next quarter. 
 The Bengaluru-based company is expanding rapidly to smaller towns and cities after it has acquired rival <keyword id="1428790" type="COMPANY" weightage="80" keywordseo="TaxiforSure">TaxiForSure</keyword> in March. It aims to provide 5 lakh trips every day in the next three months to reach the $1 billion revenue target, three company executives told the Economic Times. 
 
This will make it only the third Indian startup after e-Commerce companies Flipkart and Snapdeal to have crossed the coveted milestone. 
 "$1 billion run rate looks achievable in the next quarter," said one of the senior executives. According to one of the persons quoted above, Ola, which raised $400 million (Rs 4,456 crore) last month led by Russian billionaire <keyword id="303107" type="PERSON" weightage="80" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s <keyword id="794823" type="COMPANY" weightage="80" keywordseo="DST-Global">DST Global</keyword> and is preparing for another round of fund raising that could close in the next four months. 
 
"In the next 12 months it will be a $10-billion (Rs 63,640 crore) valuation company," the source said. 
 
However, a spokesman for Ola declined to comment on the latest developments. 
 
The four-year-old company was valued at $2.4 billion in its last round of funding. It has received around $700 million in funding from a slew of marquee investors. 
 
The online cab aggregator has revenue run rate of around $450-500 million. It has to maintain its rapid pace of growth, estimated at over 10% every week, even as it expands to 200 cities in the coming months. The company sources that ET spoke to said both Ola and TaxiForSure together clock up about 2.3 lakh trips per day. 
 
 Moreover, Ola's spurt in revenues is being aided by the rapid growth being registered by TaxiFor-Sure — which has doubled revenue in the two months since it was bought by Ola. Earlier this month, TaxiForSure announced that it completed 10 million rides. 
 Ola has plans to expand its base further as it is also expecting a revenue spurt from new services such as delivery of food, which it introduced earlier this year. It is also looking to tap the <keyword id="1186907" type="UNKNOWN" weightage="60" keywordseo="grocery-business">grocery business</keyword> and is training about 90 delivery boys in Bangalore to launch the service. 
 
(Image: Reuters)

Ola is doing a good job! Its gross revenue to reach $1-billion by next quarter

For the first time, the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Government+&amp;sortorder=effectivedate">Indian Government </a>is looking forward to fund up to 60% of the <a href="http://www.businessinsider.in/searchresult.cms?query=research+and+development+%28R%26D%29+&amp;sortorder=effectivedate">research and development (R&amp;D) </a>cost for developing indigenous low-cost electric technology. This move will help power two-, three-wheelers and commercial vehicles operating in public spaces and is aimed at reducing <keyword id="13001" type="COMPANY" weightage="20" keywordseo="pollution">pollution</keyword>. 
 
Electric mobiles are a foolproof alternatives to reduce pollution and along with it, the government is also looking forward to boost its <a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%98Make+in+India%E2%80%99+&amp;sortorder=effectivedate">‘Make in India’ </a>initiative. 
 
"The intent is to make the hybrid and electric vehicle market in India self-sustaining by increasing domestic capacities for product and technology development. We are inviting proposals in five areas, which will be undertaken as consortia projects involving multiple companies and academic institutions. The government has agreed to provide up to 60% of R&amp;D costs involved in eligible projects,” a senior government representative associated with the <a href="http://www.businessinsider.in/searchresult.cms?query=Technology+Platform+for+Electric+Mobility&amp;sortorder=effectivedate">Technology Platform for Electric Mobility</a> (TPEM), told ET. 
 TPEM is a joint initiative of the departments of heavy industry (DHI) and science and technology (<keyword id="6355529" type="CITY" weightage="20" keywordseo="DST">DST</keyword>). 
 Globally, major <keyword id="32870" type="COMPANY" weightage="20" keywordseo="Auto">auto</keyword> makers design battery modules in-house for use across their range of green vehicles. With demand for electric vehicles being miniscule in India, it has become necessary to design a common module which can be utilised by several manufacturers to generate scale and make viable economics of manufacturing and selling electric vehicles. 
 
"A lot of research is being done at the basic level in India. Indian engineers also work on developing finished products for global companies. However, there is a gap which exists today for progressing from the prototype to testing and validation phase indigenously. The attempt is to bridge this and (locally) make battery modules, motor, motor controllers and power electronics,” an executive from a leading component manufacturing company, told ET. 
 
Also underway is a study to evaluate driving patterns on roads to fine-tune the technology. 
 
"Since electric vehicles run on battery, the use of air-conditioning and driving uphill may draw out excessive energy. The technology has to factor in these conditions. Light weighting is important to address range anxiety,” a second government official told ET.

Government is going aggressive to promote e-vehicles, plans on funding 60% of R&D cost

After getting its hands on a whopping $400 million deal in April this year, now online cab service provider, <a href="http://www.businessinsider.in/searchresult.cms?query=Ola">Ola</a>, is all set to get another huge sum of Rs 3,150 crore ($500 million). 
 
As reported by Economic Times, officials who were directly aware of the development informed that the deal might add to the <a href="http://www.businessinsider.in/On-Demand-Car-Service-Uber-May-Be-Raising-At-A-Massive-3-Billion-Valuation-Or-Higher/articleshow/21347585.cms">valuation </a>of the company. The current valuation of <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is $2.5 billion which might go up to $4.5 billion. 
 
The official, on condition of anonymity, informed ET, "The deal could be finalized in about 2-3 weeks." "As <a href="http://www.businessinsider.in/searchresult.cms?query=Uber+">Uber </a>gets more aggressive in India, Ola will need to burn more cash to maintain its market leadership position," another source further added. 
 
An Ola executive said that the firm is targeting to raise $550 million at a post-money valuation of $5 billion. Reports of bringing new investors onboard have also been heard. 
 The Bengaluru based firm, however, denied making any comments on the matter. Ola, which is a <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> backed company have investors including Russian billionaire <keyword id="303107" type="PERSON" weightage="20" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s DST Global, Singapore's GIC and New York based hedge fund Falcon Edge and also Tiger Global, Steadview Capital and <keyword id="144381" type="COMPANY" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword> are major investors. 
 
Ola, so far, has raised around $676 million in six funding rounds from over a dozen investors. 
 
"The company needs cash to invest further in new businesses as well as continued discounting (for customers)," informed a source. 
With acquiring another taxi-service provider <a href="http://www.businessinsider.in/searchresult.cms?query=TaxiForSure+">TaxiForSure </a>earlier this year, Ola, currently, is present in around 10o Indian cities. 
 
One of Ola’s biggest rivals, San Francisco-based Uber, which is valued at an estimated $50 billion, has grown swiftly in India since its launch in Bengaluru in 2013. It is now present across 20 cities. 
 
The company is currently working on several new initiatives, including carpooling, on-demand food and grocery deliveries, on-demand bus aggregation and logistics. 
 Ola's spurt in revenues has been aided by the $200-million acquisition of rival <keyword id="1428790" type="COMPANY" weightage="20" keywordseo="TaxiforSure">TaxiForSure</keyword>, whose revenues have doubled since the deal closed in March this year. But Ola still accounts for over 80% of the revenue of the combined entity. Ola currently gets over 80% of its bookings through its mobile application. 
 
Image: indiatimes

Ola to raise 3,150 crore to double valuation, in talks with investors

New York-based hedge fund <keyword id="60126" type="ORGANIZATION" weightage="80" keywordseo="Falcon">Falcon</keyword> Edge and <keyword id="6357722" type="COMPANY" weightage="80" keywordseo="silicon-valley">Silicon Valley</keyword> venture fund <keyword id="144381" type="COMPANY" weightage="80" keywordseo="Accel-Partners">Accel Partners</keyword> are expected to join DST Global which is leading a soon-to-be-announced $400-million financing round in taxi hailing service <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword>, sources close to the matter told TOI. 
 Falcon Edge is expected to pump in around $20 million in the new round while <keyword id="2788417" type="UNKNOWN" weightage="80" keywordseo="Accel-US">Accel US</keyword> will put $5 million, sources said. Accel US was an investor in TaxiForSure (TFS) and became an Ola shareholder post its recent acquisition. Ola's other existing investors -including Tiger Global, Matrix Partners, <keyword id="6497288" type="UNKNOWN" weightage="80" keywordseo="Steadview-Capital">Steadview Capital</keyword> --are also participating in the new financing round. 
 
 The latest fund-raise is likely to value the company at $2.5 billion post the investment, as reported by this newspaper first in its February 26 edition. Russian billionaire <keyword id="303107" type="PERSON" weightage="80" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s DST, a significant investor in e-commerce biggie Flipkart, is expected to hold just under 10 per cent stake in the four-year-old company , post the new round. 
 
 When contacted by TOI, Bhavish Agarwal, co-founder, Ola, did not offer any comments, while Falcon Edge could not be reached immediately for a response. Founded by <keyword id="2566840" type="UNKNOWN" weightage="80" keywordseo="Richard-Gerson">Richard Gerson</keyword> together with <keyword id="2788418" type="UNKNOWN" weightage="80" keywordseo="Navroz-D-Udwadia">Navroz D Udwadia</keyword> and James Minshull, Falcon Edge leads the pack of a new breed of <keyword id="42111" type="COMPANY" weightage="80" keywordseo="Wall-Street">Wall Street</keyword> hedge funds, a Tiger Global offshoot, managing more than $4 billion in assets. Its India <keyword id="6362476" type="ORGANIZATION" weightage="80" keywordseo="investments">investments</keyword> include realty portal <keyword id="35061" type="ORGANIZATION" weightage="80" keywordseo="housing">Housing</keyword> and <keyword id="2112984" type="UNKNOWN" weightage="80" keywordseo="Newshunt">NewsHunt</keyword>, a mobile news aggregation service. 
 
 
Hedge funds like Falcon Edge, Valiant Capital and Steadview Capital, among others, funneled big money into Indian consumer internet companies last year, fanning the already frothy valuations of these tech startups. 
 The latest round of fundraise for Ola, founded by IITBombay batchmates Aggarwal and Ankit Bhati in 2011, would put it right up in <keyword id="819204" type="UNKNOWN" weightage="80" keywordseo="the-League">the league</keyword> of the most valuable internet firms domestically .Ola's $210-million fund-raise led by <keyword id="163404" type="COMPANY" weightage="60" keywordseo="Softbank">SoftBank</keyword> in October last year valued it at $650 million -post-money -making the Japanese investor the startup's largest investor. 
 
The cab aggregator is present across 67 cities and has received $277 million of capital across five financing rounds. Its biggest competitor taxi-hailing app Uber had stepped on the gas in India by doling out huge discounts to riders. However, its growth has stalled considerably post the rape of a female passenger by one of its drivers last year in Delhi.

Ola Cabs to receive $400mn funding soon

Cab aggregator <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> has raised $500 million led by Baillie Gifford, Falcon Edge Capital, Tiger Global, <keyword id="163404" type="COMPANY" weightage="80" keywordseo="Softbank">SoftBank</keyword> Group, DST Global and China's biggest <keyword id="2621589" type="UNKNOWN" weightage="80" keywordseo="Taxi-aggregator">taxi aggregator</keyword> Didi Kuaidi. 
 
Commenting on the funding, Bhavish Aggarwal, cofounder and CEO, Ola told ET, “We are excited about bringing onboard partners who can help us get there faster." 
The investment will be used to fuel supply initiatives, build supply capacity and to go deeper into existing markets. 
 Ola competes with San Francisco based <keyword id="1042120" type="PERSON" weightage="80" keywordseo="Uber">Uber</keyword> in India and it’s been reported that the gap between these two largest ride hailing platforms is slowly shrinking with both eyeing the leadership position on Indian roads and spending millions of dollars to achieve so. 
 
Ola has closed over $1.3 billion of funding, of which about $1.2 billion has been raised over the past year. San Francisco based Uber in July announced that over nine months it would invest $1 billion (about Rs 6,400 crore) in the country, its largest market outside the United States. 
 
Image credit: Indiatimes

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Flipkart announces raising $1.4 billion from Tencent, eBay & Microsoft, and acquires eBay India

BI India Bureau

India's Startups just had the worst second quarter since 2013

Saikat Pyne

Practo seeks Rs 400 cr from global investors to expand its leadership in India

BI India Bureau

Ola is doing a good job! Its gross revenue to reach $1-billion by next quarter

BI India Bureau

Government is going aggressive to promote e-vehicles, plans on funding 60% of R&D cost

BI India Bureau

Ola to raise 3,150 crore to double valuation, in talks with investors

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Ola Cabs to receive $400mn funding soon

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Taxi hailing app, Ola raises $500 million from Tiger Global, SoftBank and others

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You Searched For "DST Global" and got 8 results

Flipkart announces raising $1.4 billion from Tencent, eBay & Microsoft, and acquires eBay India

BI India Bureau

India's Startups just had the worst second quarter since 2013

Saikat Pyne

​Practo seeks Rs 400 cr from global investors to expand its leadership in India

BI India Bureau

Ola is doing a good job! Its gross revenue to reach $1-billion by next quarter

BI India Bureau

Government is going aggressive to promote e-vehicles, plans on funding 60% of R&D cost

BI India Bureau

Ola to raise 3,150 crore to double valuation, in talks with investors

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Ola Cabs to receive $400mn funding soon

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Taxi hailing app, Ola raises $500 million from Tiger Global, SoftBank and others

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Practo seeks Rs 400 cr from global investors to expand its leadership in India