Unicorns

India: ShareChat raises $16m debt financing from EDBI, lays off 5% staff

DealStreetAsia reported in May that EDBI has evinced interest in investing in Mohalla Tech.

Deals

India: Financial services emerges as top industry for venture debt funding in Jan-May

Nearly 24 financial services startups raised $216.2 million, accounting for about 36% of the venture debt raised.

Venture Capital

India Digest: ShareChat raises $49m from Temasek, others; JJG Aero snags $12m

Lightspeed, HarbourVest, Rimco and Alkeon participated in ShareChat's funding.

Analysis

India Deal Review: PE/VC investments in startups breach billion-dollar mark in March

The deal volume, however, slipped on account of fewer early-stage transactions.

Unicorns

India: Social media unicorn ShareChat raises $49m from Temasek, Lightspeed, others

Sharechat's valuation had reportedly shrunk to $1.5b in end-2023 from $5b in 2022.

Venture Capital

ShareChat-backer India Quotient gears up to launch two funds in 2024

India Quotient is an early backer in cosmetics company Sugar and LendingKart.

Deals

Editor’s take: The week that was — Jan 16-21

Data released this week confirmed startup funding in SE Asia last year was significantly short of 2021 levels.

People

Google, Temasek-backed ShareChat cuts 20% employees

Indian startups raised $24b last year, a third lesser than in 2021.

People

India: Tencent-backed ShareChat shuts fantasy sports vertical Jeet11

The social media platform also laid off nearly 5% of its workforce.

Private Equity

Temasek said to be in talks to invest in Motilal Oswal PE-backed VVDN Technologies

VVDN raised Rs 250-crore round from India's Motilal Oswal Private Equity in 2019.