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<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> has partnered with <keyword id="276785" type="COMPANY" weightage="20" keywordseo="Aegon-Life-Insurance">Aegon Life Insurance</keyword> to offer life insurance to its users. </li><li>It has premiums starting at ₹129 for ₹1 lakh sum insured. </li><li>Interestingly, the development comes at a time when Flipkart’s founder and former CEO – <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> too is toying with the financial services space.</li></ul>Indian e-commerce giant Flipkart is now set to offer digital life insurance to its users. The retail platform has partnered with Aegon Life Insurance to offer the services. This marks Flipkart’s foray into financial services. It has marked various options for life insurance policies – with sum assured ranging from ₹1 lakh to ₹10 lakhs and premiums starting from ₹129 for ₹1 lakh sum insured. The policies will be available to Flipkart’s existing customers between the ages of 18 and 65. “We are committed to developing solutions that will help bridge the gap between India and Bharat, and we are confident that the easy-access insurance policy will be one of the catalysts to power this transition,” said Ranjith Boyanapalli, head - fintech and payments group at Flipkart. Interestingly, the development comes at a time when Flipkart’s founder and former CEO – Sachin Bansal too is showing interest in the insurance space. <a href="https://economictimes.indiatimes.com/industry/banking/finance/insure/cover-story-sachin-bansal-buys-dhfl-gen-insurance/articleshow/73180954.cms?from=mdr">Bansal’s Navi Technologies</a> acquired DHFL General Insurance for ₹100 crore. Meanwhile, Flipkart aims to reach out to India’s next 200 million customers with the digital insurance wave. “This is one of our biggest strategic associations till date and it is in line with our strategy of selling insurance direct-to-customer (D2C). We will offer customized products at special prices, instant issuance and top-notch service through the platform,” said Satishwar Balakrishnan, CFO and principal officer, Aegon Life Insurance. See Also: <a href="https://www.businessinsider.in/business/startups/news/coronavirus-pandemic-heres-what-flipkart-zomato-swiggy-ola-uber-are-doing-for-delivery-agents-and-cabbies-who-cant-work-from-home/articleshow/74589898.cms">Coronavirus pandemic: Here’s what Flipkart, Zomato, Swiggy, Ola, Uber are doing for delivery agents and cabbies, who can’t work from home</a>

Sachin Bansal now competes with the company he founded – Flipkart in insurance space

<keyword id="13654411" type="General" weightage="80" keywordseo="flipkart-ventures" source="Orion">Flipkart Ventures</keyword>, the $100 milion venture fund set up by <keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword>, on Thursday announced to invest in six early-stage tech startups as part of its accelerator programme. The six startups will receive an equity investment upto $500,000 from Flipkart and undergo 16-week mentorship under '<keyword id="14750758" type="General" weightage="50" keywordseo="leap-ahead" source="Orion">Leap Ahead</keyword>' programme. "Through this endeavor, we strive to be a catalyst in the growing startup community by continuing to expand our program each year and presenting growth opportunities to emerging entrepreneurs," said <keyword id="508911" type="General" weightage="50" keywordseo="ravi-iyer" source="Orion">Ravi Iyer</keyword>, Senior Vice President and Head, Corporate Development. The startups cover areas such as robotics, AI and personalisation, data analytics, supply chain solutions, insuretech, metaverse applications, and more. These are Dopplr (metaverse), Livwell (insurtech) <keyword id="9061594" type="General" weightage="50" keywordseo="logisticsnow" source="Orion">LogisticsNow</keyword>, <keyword id="14750756" type="General" weightage="50" keywordseo="neuropixel" source="Orion">NeuroPixel</keyword>.AI, <keyword id="14750757" type="General" weightage="50" keywordseo="rightbot-technologies-and-sellerapp" source="Orion">Rightbot Technologies and Sellerapp</keyword>. The startups will undergo the well-curated mentorship programme delivered through a customised curriculum, which has been designed by Bain &amp; Company. At the end of the programme, the startups will be able to present their ideas to potential investors and industry leaders on a 'Demo Day'. The Flipkart 'Leap Ahead' programme graduated its first cohort in July 2021 with eight startups that successfully pitched their ideas to investors and raised further funding. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/realme-9i-5g-vs-redmi-note-11-mobile-phone-comparison-of-price-and-features/slidelist/93636165.cms">Realme 9i 5G vs Redmi Note 11 – price, specs and features compared</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/new-maruti-suzuki-alto-k10-brings-premium-suv-features-in-a-compact-car/slidelist/93636927.cms">New Maruti Suzuki Alto K10 brings premium SUV features in a compact car</a>

Flipkart Ventures invests in 6 early-stage tech startups

<ul><li>Sequoia was rated as the top investor in Indian unicorns in August 2020.</li><li><keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword> picked up pace, with nine unicorn deals in the first half of 2021.</li><li>Indian startup ecosystem is poised to have 150 unicorns by 2025.</li></ul> The Indian startup ecosystem is undoubtedly at its prime at the moment, with an undisrupted flow of capital and unicorns in 2021 so far. The country has witnessed the entry of 15 startups into the unicorn club and there is one thing that the startup ecosystem cannot stop talking about — investor Tiger Global. A unicorn, in startup parlance, is a private company valued at or over $1 billion. The New York-based investment firm, which almost went relatively quiet in India since 2016, has significantly picked up its pace to deploy capital this year. Tiger Global, has made some major investments this year -- mostly unicorns and soonicorns (startups likely to enter the unicorn club soon) -- and has risen above ranks to be one of the top investors of 2021. In fact, it has overtaken <keyword id="122716" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> as the top investor in India’s unicorns, in terms of number of deals. Sequoia has invested in 18 of the 52 Indian unicorns and was titled the <a href="https://entrackr.com/2020/08/sequoia-top-investor-in-indian-unicorns-hurun-research/">top </a>investor in Indian unicorns last year by a Hurun report. Meanwhile, Tiger Global is backing 25 of them, making it an investor in almost 50% of the Indian unicorns. This year, alone, Tiger Global invested in 9 of the 15 startups that entered the Indian unicorn club. Sequoia invested in five such new unicorns. Tiger Global had been aggressively chasing the Indian market since 2010, but slowed down its pace in between 2016-2018. The company, which cracked <a href="https://qz.com/india/1608024/what-zenoti-ninjacart-investments-say-about-tiger-global-in-india/">40 deals</a> in India in 2015, only invested in seven startups in 2016, five in 2017 and eight in 2018. Top management changes, with the departure of former partner Lee Fixel, in 2019 slowed down the investor’s pace in India. Seems like Tiger Global is back to its aggressive stance in the Indian market once again, cracking one deal after another. Tiger Global was one of the first big venture capitalists (VC) to be successful in India and showed that exits could happen, Kabir Kochhar, partner at Anthill Ventures, told Business Insider. Notably, Tiger Global received a $3.3 billion exit from its investment in <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, but its Indian investment streak slowed post 2018 and that allowed other VCs to overtake Tiger. Kochhar added, “Being among the first VCs to drive value, write big cheques and show significant exits, things have been quiet in the last few years and they have ceded the mantle other top tier VCs such as Sequoia, <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> and Naspers. Their recent multi-billion dollar fundraise has fuelled their desire to make up for missed opportunities of investing in emerging unicorns over the last few years. Tiger has gone back to its famed aggression and lightening quick decision making and is on a tear in India and globally. It's encouraging to see their bullishness in the Indian VC ecosystem. They’re back and will be a significant player in the evolution and scaling up of the next generation of Indian startups." Outside of the unicorn club, Tiger Global has set its eyes on some of the prominent startups in India. This includes retail financing startup Progcap, insurtech startup Plum, blue collar recruitment platform Apna and multi-brand car workshop platform GoMechanic. It had also led one-year-old microblogging platform <a href="https://www.businessinsider.in/business/news/indias-micro-blogging-app-koo-raises-30-million-by-tiger-global/articleshow/82965589.cms">Koo’s $30 million round</a> last month, amidst Twitter’s trouble with the Indian government. Now, it is said to be in talks with payments platform BharatPe to lead the three-year-old startup’s<a href="https://techcrunch.com/2021/06/18/tiger-global-in-talks-to-back-bharatpe-at-2-5-billion-valuation/"> unicorn round</a>. The part hedge fund, part equity fund has invested in 118+ companies across the globe this year, taking its total portfolio to 400+ companies with an assets under management (AUM) of $65 billion. According to a Crunchbase<a href="https://news.crunchbase.com/news/tiger-global-management-strategy-investing-2021/"> analysis</a>, Tiger Global’s investment has grown 10 times compared to 2020. The report further adds that Tiger Global led or co-led $10.5 billion worth venture rounds in 2021 till June, doubling the figures compared to full year 2020. Sequoia Capital, on the other hand, led or co-led $4.1 billion worth deals this year till June. Sequoia has invested in 1,500+ companies and has an AUM of more than <a href="https://www.businessinsider.in/tech/news/sequoia-capital-one-of-silicon-valleys-most-notable-vc-firms-told-investors-it-was-hacked/articleshow/81128593.cms">$38 billion</a>. The disparity between Tiger Global and Sequoia Capital’s AUM and portfolio size is simply because of the stages they both focus on. While Tiger Global mostly looks into later stage and post-initial public offering (IPO) deals, Sequoia has spread its wings across seed to later stage deals. This makes Sequoia capital’s portfolio much bigger than Tiger Global, but its AUM is lower due to size of these deals. Sequoia also runs its accelerator programme Surge through which it invests in about 50 early-stage startups in southeast Asia annually. SoftBank Vision Fund, which too makes later stage deals like Tiger Global, is a close second. The Japanese conglomerate has led or co-led about $8.6 billion worth venture rounds globally this year till June. In India, Meesho, Zeta and FirstCry have been its investments this year. Overall, it has invested more than <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/SoftBank-to-expand-Vision-Fund-portfolio-to-500-companies-Son-says#:~:text=Since%20launching%20the%20Vision%20Fund,billion%20in%20nearly%20200%20companies.">$90 billion </a>in nearly 200 companies. Both Sequoia Capital India and Tiger Global declined to comment on the queries regarding their investment deals in India. India is currently the<a href="https://www.businessinsider.in/business/startups/news/these-are-the-top-10-most-valued-indian-startups/india-has-the-third-largest-startup-ecosystem-in-the-world/slideshow/80358033.cms"> third biggest startup </a>ecosystem in the world, with over 55,000 startups that have raised $70 billion between 2014 to 2020. As per the data shared by the Department for Promotion of Industry and Internal Trade (DPIIT), the country has at least one startup from 586 districts of the total 739 districts. A business will be considered as a startup, according to the Indian government, up to a period of 10 years from the date of incorporation. Each of these startups should not have a turnover of more than ₹100 crore. Thanks to Tiger Global’s investments streak this year, India seems to be set to meet its ‘100 unicorns by 2025’ deadline much faster. According to the latest Praxis and 256 Network’s report, India will now be able to see 150 unicorns by 2025. SEE ALSO <a href="https://www.businessinsider.in/cryptocurrency/news/britain-bans-cryptocurrency-exchange-binance-from-operating-in-the-uk-without-written-consent/articleshow/83901032.cms" data-type="tilCustomLink" target="_blank">Britain bans cryptocurrency exchange Binance from operating in the UK without 'written consent'</a> <a href="https://www.businessinsider.in/politics/world/news/unemployment-declining-faster-in-states-that-are-cutting-off-300-enhanced-federal-benefits-according-to-wsj/articleshow/83905188.cms" data-type="tilCustomLink" target="_blank">Unemployment declining faster in states that are cutting off $300 enhanced federal benefits, according to WSJ</a> <a href="https://www.businessinsider.in/tech/news/jeff-bezos-accused-his-girlfriends-brother-of-hiding-ownership-of-a-2-5-million-property-to-avoid-paying-his-legal-fees-court-filings-show/articleshow/83875736.cms" data-type="tilCustomLink">Jeff Bezos accused his girlfriend's brother of hiding ownership of a $2.5 million property to avoid paying his legal fees, court filings show</a>

Tiger Global overtakes Sequoia as the top investor in Indian unicorns in 2021, cracks 15 deals this year so far

<ul><li><keyword id="7321744" type="UNKNOWN" weightage="20" keywordseo="Flipkart-co-founder-Binny-Bansal">Flipkart co-founder Binny Bansal</keyword> cashed out a part of his shares by selling them to investment firm Tiger Global. </li><li>With this, Tiger Global increases its stake in <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>.</li><li>Meanwhile, Bansal has been actively investing in Indian startups.</li></ul>Flipkart’s co-founder <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> sold another tranche of his shares in Flipkart to Tiger Global for over $14 million, according to filings sourced by paper.vc. However, the report also says that given Flipkart’s subsidiary company Phonepe’s growth, the company’s valuation could have risen. It means Bansal’s buyout could be worth $25 million. His stake in the company will be as a little as 3%, after the deal. Flipkart was also in the news recently as its board gave approval for its employees to cash out stock options for over $100 million. Employees could liquidate 10% of their stock options in the company. In June 2019, rumours were rife that <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> is looking to exit from Flipkart as the latter heads for an IPO in the US. It was then that Bansal had sold some of his shares. Bansal, who had exited from all operational roles in the company over allegations of personal misconduct, sold a part of his shares for $76.4 million, according to filings sourced by paper.vc. During the sale of Flipkart to Walmart in 2018, Bansal made as much as $159 million by selling over 1.1 million shares. Cashing out for investments Since his Flipkart exit, Bansal turned into a full-time investor. In January this year, Binny Bansal had closed the first round of $32 million for his VC fund called ‘021 Capital’ which he formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO also raised a round from Premji Foundation and is also backed by former Flipkart employees. Since then, he has made personal bets like in Masaba Gupta’s fashion label, insurtech startup Acko and legal startup Spotdraft amongst others.

Binny Bansal sells his shares in Flipkart for the third time since Walmart’s entry

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>’s <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> has led a $1 million funding in <keyword id="121020" type="PERSON" weightage="20" keywordseo="Masaba-Gupta">Masaba Gupta</keyword>’s designer brand. </li><li>Masaba has been in business for 10 years but has raised her first round of investment now. </li><li>In June 2019, Bansal had sold a part of his shares in Flipkart for $76.4 million.</li></ul>Flipkart founder Binny Bansal invested in popular designer Masaba Gupta’s fashion label. Masaba – as the apparel brand is called – has raised $1 million in its first round of funding led by Bansal. “After being in the fashion business for 10 years, it was the right time to bring institutional investors on board,” said Masaba Gupta <a href="https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/masabas-label-raises-1m-in-round-led-by-binny-bansal/articleshow/70136565.cms">in a statement. </a> She started her own fashion label in 2009, but is now eyeing expansion. She wants to grow the number of her stores from 11 to <a href="https://www.livemint.com/mint-lounge/features/masaba-celebrates-10-years-in-fashion-1555061308393.html">50 in India and abroad. </a> She recently unveiled an official Game of Thrones collection. “Masaba has been able to create a great brand backed by her unique designs. She is one of the youngest designers to do so and I believe she is just getting started on building a great business,” said Bansal. Ever since he exited the company he founded, Bansal has been busy investing into startups and turned into a full-time investor. In June, Bansal had sold a part of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. Now, Bansal has a residual share of 3.52% in the company. In January 2019, Bansal closed the first round of $32 million for his VC fund called ‘021 Capital’ which he had formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO had raised a round from Premji Foundation also from a few former colleagues from Flipkart. He had made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. See Also: <a href="https://www.businessinsider.in/flipkart-ipo-in-us-binny-bansal-sells-stake-to-walmart/articleshow/69924275.cms">Flipkart’s IPO in the US could see Walmart exit, Binny Bansal has already begun cashing himself out</a>

Binny Bansal leads an investment in fashion designer Masaba Gupta’s label

<ul><li>The Series D round was led by General Atlantic and Multiples Private Equity.</li><li>The company will use this funding to boost its health business with a $150 million investment.</li><li>The company claims to have over 70 million customers.</li></ul>Amazon-backed digital insurance company <keyword id="4943836" type="General" weightage="20" keywordseo="acko" source="Orion">Acko</keyword> has raised $255 million, at a valuation of $1.1 billion. The Series D round was led by General Atlantic and Multiples Private Equity, along with the participation from Canada Pension Plan Investment Board and Lightspeed. Existing investors Intact Ventures and Munich Re Ventures have infused an undisclosed amount in this round. The transaction is subject to approval by the Insurance Regulatory and Development Authority of India (IRDAI), India’s insurance regulator. Barclays was the exclusive financial advisor to Acko on this fundraise. <keyword id="4055885" type="General" weightage="20" keywordseo="acko-general-insurance" source="Orion">Acko General insurance</keyword> is the 34th unicorn of 2021. A unicorn, in a startup parlance, is company valued over $1 billion. Founded by Varun Dua and Ruchi Deepak in 2016, Mumbai-based Acko is an independent digital general insurance company, which offers insurance products across motor, health, travel and more. Motor insurance is its largest offering, cofounder Deepak had told Business Insider in a previous interaction. The company claims to have over 70 million customers, clocking a run-rate of nearly $150 million in premiums. “We strongly believe in supporting our customers in protecting their valued assets or the health and safety of their loved ones via a differentiated product and value-added service. Insurance and protection must work for people based on their unique risks and needs in a seamless, reliable fashion,” Dua, chief executive officer (CEO) of Acko added. Acko intends to use this funding to invest in their healthcare vertical and scale its team, particularly within technology, product and data science. The company intends to invest $150 million into its health business. Prior to this, the company has raised $450 million to date from marquee investors like Amazon, Accel, Elevation, Accent Capital, Flipkart’s co-founder Binny Bansal and others. Acko is the second insurtech startup to enter the unicorn club. Digit insurance crossed the <a href="https://www.businessinsider.in/business/startups/news/digit-insurance-becomes-2021s-first-indian-unicorn-as-existing-investors-pump-in-funding-pushing-valuation-to-1-9-billion/articleshow/80279463.cms">billion dollar valuation mark in January</a> 2021. Though<a href="https://www.businessinsider.in/business/startups/news/softbank-will-be-selling-20-of-its-stake-in-policybazaars-ipo-next-week/articleshow/87310755.cms"> IPO-bound PolicyBazaar </a>is an insurtech player too, it is a seller of insurance policies and not a provider like the other two players. PolicyBazaar will be launching its IPO on November 1, at a price band of ₹940-980. The lot size is set at 15 shares. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore by its existing shareholders. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/nykaa-raises-2400-crore-from-174-anchor-investors/articleshow/87325004.cms" data-type="tilCustomLink">Nykaa raises nearly ₹2,400 crore in anchor investment from Government of Singapore, Goldman Sachs, JP Morgan and others</a> <a href="https://www.businessinsider.in/business/startups/news/has-the-legal-battle-between-phonepe-and-bharatpe-over-pe-been-going-on-for-too-long/articleshow/87299198.cms">Has the legal battle between PhonePe and BharatPe over ‘Pe’ been going on for too long?</a> <a href="https://www.businessinsider.in/india/news/supreme-court-of-india-verdict-on-pegasus-spying-case-appoints-a-retired-judge-committee-for-probe/articleshow/87299281.cms">A panel headed by a retired judge will probe if the Indian government used Pegasus to spy on journalists and other prominent citizens</a>

Amazon-backed digital insurance company Acko is now valued over a billion dollars

<ul><li>Insurtech startup <keyword id="4943836" type="PERSON" weightage="20" keywordseo="Acko">Acko</keyword> has raised $65 million in a series C round. </li><li>Founded by Varun Dua in 2016, the startup has marquee investors like Amazon, Accel Partners, SAIF Partners among others. </li><li>This funding round takes Acko’s <keyword id="51393" type="PERSON" weightage="20" keywordseo="valuation">valuation</keyword> to a reported $300 million. </li></ul>Insurance technology startup Acko has <a href="https://www.vccircle.com/binny-bansal-others-invest-65-mn-in-digital-insurance-startup-acko/">raised</a> $65 million from <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>, former Flipkart co-founder, and Kabir Misra, former SoftBank Managing Partner. The series C funding round with a <a href="https://www.vccircle.com/binny-bansal-others-invest-65-mn-in-digital-insurance-startup-acko/">reported</a> valuation of $300 million also saw participation from Intact Insurance (Canada’s property and casualty insurer) and existing marquee investors like Amazon, Accel Partners, SAIF Partners and TechPro Ventures. Acko, was founded by Varun Dua in 2016, and has gone on to make its mark in the Indian insurtech industry. In the recent past, Acko has been signing partnerships one after the other venturing into different verticals within insurance. The insurtech startup tied up with <a href="https://www.thehindubusinessline.com/money-and-banking/acko-partners-goibibo-for-travel-insurance-foray/article26006200.ece">Goibibo</a> to offer travel insurance to the latter’s users. Acko also partnered with <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/acko-general-insurance-partners-with-driveu-to-provide-trip-cover-for-car-owners/articleshow/66118573.cms">DriveU</a> to offer trip cover to car owners who opt to hire drivers from the latter’s platform. Interestingly, the startup also formed a partnership with <a href="https://economictimes.indiatimes.com/small-biz/sme-sector/au-small-finance-bank-partners-with-insurtech-firm-acko-general-insurance/articleshow/68269212.cms">AU Small Finance Bank</a> in early March to bring about customised insurance deals for their users. India has seen a slow penetration of the insurance sector but things are changing now. According to <a href="https://economictimes.indiatimes.com/industry/banking/finance/insure/insurance-industry-to-touch-280-billion-by-fy20-assocham/articleshow/65740339.cms">reports,</a> the Indian insurance industry is set to grow to $280 million by 2019-20. India has also seen a surge in insurtech startups with the likes of Policybazaar also gaining unicorn status. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/heres-why-binny-bansals-021-capital-placed-its-bets-on-the-two-year-old-legal-tech-startup-spotdraft/articleshow/68198106.cms">Why India’s Unicorn Founders Backed This Barely Two-Year-Old Legal Tech Startup</a> <a href="https://www.businessinsider.in/after-minting-1-billion-from-flipkart-sale-sachin-bansal-is-now-betting-big-on-ola/articleshow/67526383.cms">Watch Out Uber. Sachin Bansal Gets Ola Share After Selling Flipkart</a>

This Indian insurance startup may be worth $300 million in just over two years

<ul><li>Premji Foundation, <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> along with SIDBI have led an investment of ₹960 crore in venture debt fund <keyword id="4844054" type="PERSON" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword>. </li><li>This makes Alteria Capital the largest venture debt fund in India. </li><li>Alteria invested in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Dunzo, Vogo, Stanza Living, toppr among others.</li></ul>Former Wipro Chairman <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s Premji Foundation, Flipkart co-founder Binny Bansal along with SIDBI,invested ₹960 crore in the venture debt fund, <a href="https://timesofindia.indiatimes.com/business/india-business/premjis-ngo-bansal-put-rs-960cr-in-venture-debt-co/articleshow/70424468.cms">Alteria Capital</a>. This investment has made Alteria Capital the biggest venture debt fund in the country. According to reports, it is also SIDBI’s single largest investment, as the government nodal agency pumped in as much as ₹160 crore. Alteria Capital was founded by Ajay Hattangdi and Vinod Murali who had earlier led Innoven Capital. The firm has so far invested in hyperlocal delivery startup Dunzo, electric bike startup Vogo, student accommodation startup Stanza Living among others. The firm also placed its bets on cricketer Virat Kohli’s apparel brand Wrogn. Meanwhile, ace entrepreneur and investor Binny Bansal has been on an investment spree. In July, he invested in fashion designer Masaba Gupta’s brand. In June, Bansal sold some of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. That leaves him with a residual share of 3.52% in the company he co-founded. He made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. Interestingly, earlier Bansal for his own fund had raised money from his co-investor in the round for Alteria Capital – Premji Foundation. Bansal formed 021 Capital with his financial adviser Sailesh Tulshan for which he had raised $32 million from Premji Foundation and a few former Flipkart colleagues.

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

<ul><li>One of India’s oldest internet companies <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword>’s share price has almost doubled in the last one year, with its market cap close to $10 billion.</li><li>Info Edge’s presence in the stock market as one of the only purely digital players has made it a ‘stock of the future’.</li><li>The company’s bull run is also facilitated by the fact that two of its star investments, Zomato and PolicyBazaar, are headed for an IPO in 2021.</li></ul>If you want to have a stake in the booming digital businesses of India, buying shares in Flipkart or BYJU’S – the world’s most-valued edtech startup⁠— is not an option. But, there’s one company where you can buy shares⁠— Info Edge, which has become a listed proxy for the spiking valuations in tech startups. Info Edge, one of India’s oldest internet businesses, has multiple startup investments including two unicorns ⁠— food delivery app Zomato and insurance aggregator Policybazaar ⁠— both of which are headed for a debut in the share market. A unicorn is a private firm with more than a billion-dollar valuation. This has resulted in Info Edge’s share price almost doubling in the last one year, and its market cap is close to $10 billion. Zomato will be ready for an IPO in three months, the chief financial officer <a href="https://www.zeebiz.com/companies/news-we-are-working-on-zomato-ipo-info-edge-cfo-and-ed-chintan-thakkar-said-in-chat-with-anil-singhvi-wants-boost-for-startups-in-budget-2021-146270">revealed in a television interview</a>. But that’s not the only reason for the rally in Info Edge shares. <div type="image" title="INFO EDGE SHARE FEB 21" msid="80925368" hostid="261"></div> Info Edge’s core business includes four internet firms that are spread across lucrative industries – recruitment portal Naukri.com, real estate aggregator 99acres.com, matrimony platform Jeevansaathi.com and edtech vertical Shiksha.com. The company’s vision and play in India’s internet economy has also been recognized by the Indian government. Info Edge’s founder <keyword id="295255" type="PERSON" weightage="20" keywordseo="Sanjeev-Bikhchandani">Sanjeev Bikhchandani</keyword>, who leads startup investments for the company, has also been awarded Padma Shri, the country’s fourth highest civilian honour in January 2020. <cmsannotation type="cmsannotation" annotationid="Markets are forward-looking and Info Edge is being seen as the business for the future" comment="subhead" text="Markets are forward-looking and Info Edge is being seen as the business for the future">Markets are forward-looking and Info Edge is being seen as the business for the future</cmsannotation> The much-awaited IPO from Zomato and Policybazaar may be the cherry on top. There is a lot else inside Info Edge, which makes its shares attractive. “We don’t have a completely digital listed company in India and Info Edge is the only representative as far as the digital age is concerned. That’s why there is exuberance from institutional investors,” said Kranthi Bathini, equity strategist at WealthMills Securities. The excitement around Info Edge is so high that investors have ignored the company has seen its profit decline for five straight quarters. “Info Edge has a unique business model and when you talk about the double digit GDP growth that India is aiming for, these are the kind of companies that will give tremendous returns,” said Bathini. <div type="image" title="info edge revenue profits final." msid="80925413" hostid="261"></div> “The company is expected to witness improving revenue and margin trends in coming quarters led by opening up of economy and market share gains,” said a ICICI Securities report from November 2020. For Info Edge, the recruitment portal Naukri.com is the only cash cow. However, <a href="https://www.businessinsider.in/business/news/info-edge-earnings-are-proof-that-not-all-internet-businesses-are-immune-to-the-covid-crash/articleshow/79163835.cms">the last year </a>has been tough due to the crash in sectors like real estate and employment opportunities, which went from bad to worse during the pandemic. <div type="image" title="Info edge segment final." msid="80925431" hostid="261"></div> <cmsannotation type="cmsannotation" annotationid="Zomato – the star in Info Edge portfolio" comment="subhead" text="Zomato – the star in Info Edge portfolio">Zomato – the star in Info Edge portfolio</cmsannotation> But it’s not just its own businesses that make Info Edge an attractive stock. Within it’s long list of investee companies, is the foodtech unicorn Zomato, which is expected to open the floodgate of technology IPOs in India in 2021. There’s also the insurtech unicorn PolicyBazaar which is looking at an IPO this year. In an <a href="https://www.businessinsider.in/business/startups/news/hitesh-oberoi-plan-to-make-the-5-billion-info-edge-worth-a-lot-more/articleshow/74096907.cms">earlier interview</a> with Business Insider, Hitesh Oberoi, CEO of Info Edge had said, “We had invested in Zomato, when it wasn’t even called so. It was called Foodiebay then. When we had started investing, there was no SoftBank (Japanese investment firm) – we were in the mindset to start investing in businesses that we understand.” Info Edge has an over 20% stake in Zomato. <div type="Youtube" id="I9uBWXKAlOE" title="How CEO Hitesh Oberoi&amp;#39;s plan to make the $5 billion Info Edge worth a lot more." thumbUrl="https://i.ytimg.com/vi/I9uBWXKAlOE/mqdefault.jpg"></div> Info Edge is doubling down on its image as the only game in the market for those who want a bite out of the digital boom. It announced its latest acquisition on Friday (February 12) along with its earnings. 4B Networks, which is a platform for brokers and developers, is also now in the Info Edge kitty. “Zomato’s and PolicyBazaar’s IPOs will be wealth creation for investors. Info Edge has invested in a lot of startups and the hope is that some of them will go on to become as successful as Zomato or Policybazaar,” said a market analyst. Some of Info Edge’s top investments <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato, foodtech unicorn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Policybazaar, insurtech unicorn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Makesense Technologies, recruitment software developer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shopkirana, a B2B e-commerce platform connecting FMCG brands and retailers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bijnis, a B2B e-commerce platform connecting manufacturers and retailers in the fashion industry </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shipsy, a global logistics SaaS company </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ustraa, a leading D2C men’s grooming brand </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gramophone, an agri-tech company providing agronomic insights to farmers coupled with delivery of agriculture inputs </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adda247, a government jobs focused online test preparation platform among other businesses. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Univariety.com, student career guidance platform </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nopaperfoams Solutions, enrolment automation platform </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-analysts-believe-100-crore-ipo-of-dr-trusts-parent-nureca-is-a-sizeable-opportunity/articleshow/80919163.cms">Here’s why analysts believe ₹100 crore IPO of Dr Trust’s parent Nureca is a ‘sizeable’ opportunity</a>

Info Edge is now worth almost $10 billion even with its profits falling for five quarters in a row

<ul><li>In 2021, <keyword id="8990323" type="UNKNOWN" weightage="20" keywordseo="indian-VCs">Indian VCs</keyword> (venture capitalists) believe that the investment deal flow will continue as global funds too jump in for a pie of the Indian startup ecosystem.</li><li>Indian investors say they will continue to bet on sectors like e-commerce, edtech, fintech and SaaS, while there’s room for sectors like SpaceTech and Agritech to grow.</li><li>The year ahead could see consolidation in India’s tech ecosystem as well. Investors believe more mergers and acquisitions are on the cards in 2021.</li></ul>India’s tech ecosystem is riding into the new year with a lot of enthusiasm. There are multiple <a href="https://www.businessinsider.in/business/startups/news/2021-could-finally-be-the-year-of-indias-tech-ipos-as-startups-like-zomato-delhivery-policybazaar-head-for-the-public-markets/slidelist/80019978.cms">startup IPOs</a> on the cards, investments are flowing in, and the spirit of recovering in a post-pandemic era is high. In 2020, despite the coronavirus pandemic PE-VC (private equity and venture capital) deals hit $39 billion across 814 deals led by the onslaught of deals by Mukesh Ambani’s Jio Platforms and Reliance Retail. And in 2021, Indian VCs (venture capitalists) believe that the investment deal flow will continue as global funds are eyeing a slice of the Indian startup ecosystem. “2021 will be a watershed year for the tech economy in India. While foreign investors have been extremely bullish about it, domestic investors and even large corporates have been largely bystanders past 10 years waiting for the change to reach a certain critical mass. They will now jump in or be left out of the handsome gains that will be accrued in the next 10 years, by participating in the tech economy,” said Anup Jain, Managing Partner at Orios Venture Partners. India’s internet ecosystem in numbers <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Internet Subscribers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Smartphone devices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Social media users </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Daily mobile time </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">749 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">376 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.8 hours </td></tr></tbody></table>Source: HDFC Securities report dated December 17, 2020 And to ride this internet growth of India, here are the sectors that Indian VCs are betting on in 2021. Edtech will continue to shine 2020 was the year of <a href="https://www.businessinsider.in/business/startups/news/india-edtech-in-charts-how-the-shift-to-online-learning-meant-money-valuation-and-users-for-the-likes-of-byjus-unacademy-and-others/articleshow/80040270.cms">edtech</a> in India. With schools and colleges shut due to the COVID-19 pandemic, India’s educational technology <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> stood at the forefront of online transition of schools. In 2020, edtech startups raised a total of $2.2 billion, and VCs believe that the money will continue flowing into the sector. Fintech is the next big bet As the internet penetrates India's hinterlands, the adoption of digital payments, financial tech instruments will increase across the country. And VCs believe that fintech cos will drive the growth. "If 2020, the year of the pandemic, was all about edtech and health tech, 2021 will be the year of Fintech in India. Consumers and businesses alike have made substantial changes to the way they lead their lives and businesses and set new goals and practices for saving, investing and spending," said Jain. Jain lists that financial services or neo-banking ecosystem, wealth creation and management will reign big in fintech along with "the use of tech by consumers, just like in e-commerce, will be reflected in discovery and purchase of financial products and services." E-commerce boom to linger With the coronavirus pandemic, offline retail was hit in a big way, which also led to India's e-commerce firms' boom along with grocery retail, which saw their numbers multiply. From Amazon and Flipkart seeing the number of sellers grow on their platform to JioMart, BigBasket, Grofers, saw their average order volumes and app downloads grow during the pandemic. This e-commerce boom will continue to linger in the new year, believe VCs. The durable shift to online has gone well beyond just the top 50 million users, and all incumbents brands have embraced it and are providing a good experience. The sector will keep expanding, and new retail (formats+omnichannel), Social commerce, warehousing, etc should see innovation," said Deepak Gupta, Founding Partner, WEH Ventures. Within e-commerce, Direct to Consumer or DTC brands that sell directly from their websites saw massive growth in 2020. And that has seen investor appetite also grow, with brands like boAt raising over $100 million in funding already in 2021. SaaS to ride on the benefit of digitization One of India’s best performing bets has been in the SaaS (Software as a Service) sector with unicorns like Freshworks, Zoho, Druva, Zenoti, Icertis. And experts believe that the offerings in SaaS are far from over. “We expect adoption of SaaS (software-as-a-service) products to become more widespread as people realized the benefits of digitization during the COVID 19 pandemic. Cyber Security companies would have tailwinds as data leaks / data thefts have made sure people take this aspect into cognizance,” said Jatin Desai, Managing Partner at Inflexor Ventures. Space, agri and electric vehicle infra are among other sectors to watch out for Here are the other sectors that VCs are betting on <ul><li>SpaceTech</li><li>AgriTech</li><li>InsurTech</li><li>Electric Vehicles Infrastructure</li></ul>Pankaj Makkar, MD of Bertelsmann India Investments, sums it up that sectors like e-commerce, e-commerce logistics, direct-to-consumer, Edtech, HealthTech, and some portions of FinTech will do well in the new year. But he also sees consolidation in India’s tech ecosystem. “We will also see Mergers and Acquisitions happening as competitors may join hands because there is less space to grow,” he said. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/with-whatsapp-popularity-hit-zoho-plans-to-launch-arattai-messaging-app/articleshow/80206802.cms">Zoho plans to woo WhatsApp defectors with its own messaging app Arattai</a>

You Searched For "flipkart insurtech" and got 10 results

Sachin Bansal now competes with the company he founded – Flipkart in insurance space

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Flipkart Ventures invests in 6 early-stage tech startups

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Tiger Global overtakes Sequoia as the top investor in Indian unicorns in 2021, cracks 15 deals this year so far

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Binny Bansal sells his shares in Flipkart for the third time since Walmart’s entry

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Binny Bansal leads an investment in fashion designer Masaba Gupta’s label

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Amazon-backed digital insurance company Acko is now valued over a billion dollars

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This Indian insurance startup may be worth $300 million in just over two years

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Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

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Info Edge is now worth almost $10 billion even with its profits falling for five quarters in a row

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‘2021 will be a watershed moment for India’s tech ecosystem’ — here are the startup sectors that VCs are betting on

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