BackThree Indian deals in top 10 Asia deals list: CB Insights Study
Flipkart.com's $550 million fund raising, closed in May, was the fourth largest deal struck in Asia during the quarter
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Mumbai: Three transactions by Indian entities have made it to the top 10 deals by value in the Asian region in the April-June quarter, according to a global report released by KPMG International and CB Insights on Thursday.
Flipkart.com’s $550 million fund raising, closed in May, was the fourth largest deal struck in Asia during the quarter. Flipkart’s existing investors such as Tiger Global Management participated in the fundraising, which valued the company at about $15 billion.
The top three investments in the Asian region were South Korea based e-commerce firm Coupang’s $1 billion fundraising, followed by Internet insurance company ZhongAn Insurance’s $931 million fundraising. The third largest deal was closed by online location-based dining information and group-buying website Dianping.com which raised $850 million.
Bengaluru-based taxi aggregator Ola’s $400 million fundraising made it to number seven and was followed by a deal closed by One97 Communications Ltd, owner of Paytm, as part of which the company raised $350 million.
In April, Ola raised capital from a consortium of investors in a round that valued the company at $2.5 billion. The investment came soon after it acquired peer Taxiforsure.com, making Ola one of the top three online firms in the country by valuation.
In February, China’s largest e-commerce firm Alibaba Group Holding Ltd bought a 25% stake in the parent firm of Paytm for $575 million. Part of that deal was reflected in the April-June quarter, according to the KPMG-CB Insights report. This was listed as the eight largest deal during the quarter.
The report called India a “red hot market" as the number of deals closed rose to 122 in the April-June quarter compared with 84 in the quarter ending March. In total, 122 start-ups in the country managed to raise $2.33 billion during the second quarter of this calendar year compared with $1.17 billion during the previous quarter.
The amount was also the highest raised by Indian start-ups in a single quarter.
Sequoia Capital India was the most active investor in Asia during the last quarter, participating in funding deals involving Grofers, Peppertap.com and house furnishing website Urban Ladder, among others. SAIF Partners and Accel Partners were among the top three most active funds.
In Asia, Internet and mobile start-ups received 82% of the funding during last quarter. In North America and Europe such deals accounted for 65% and 74% of total deals, respectively.
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