Total technology industry venture financing deals in Q4 2019 worth $1.04bn were announced in India, according to GlobalData’s deals database.
The value marked a decrease of 3.5 percent over the previous quarter and a drop of 4.8 percent when compared with the last four-quarter average of $1.09bn.
India held a 3.02 percent share of the global technology industry venture financing deal value that totalled $34.43bn in Q4 2019.
In terms of deal activity, India recorded 112 deals during Q4 2019, marking a drop of 6.7 percent over the previous quarter and a drop of 5.1 percent over the last four-quarter average.
India technology industry venture financing deals in Q4 2019: Top deals
The top five technology industry venture financing deals accounted for 68.2 percent of the overall value during Q4 2019.
The combined value of the top five technology venture financing deals stood at $709.26m, against the overall value of $1.04bn recorded for the month.
The top five technology industry deals of Q4 2019 tracked by GlobalData were:
- Altimeter Capital Management, Citi Ventures, DST Global, Footpath Ventures, GGV Capital, Hillhouse Capital Group, Lightspeed Management Company and Tencent Holdings’ $285m venture financing of Udaan.com.
- The $150m venture financing of Freshworks Technologies by Accel, CapitalG, GV Management Co and Sequoia Capital India.
- CDH Investments Fund Management, Leo Capital and Sequoia Capital China’s $148.26m venture financing of Bulbulshop Shopping Network.
- The $70m venture financing of CarDekho by Autohome, Hillhouse Capital Group, Ping An Global Voyager Fund and Sequoia Capital Operations.
- JS Capital, Prime Venture Partners, Tencent Holdings and Tiger Global Management’s venture financing of myGate for $56m.