Chinese Investors commit USD 30 million for 8 Indian Startups
Startup India Investment Seminar held in Beijing, China
The Embassy of India in China in partnership with Startup India Association (SIA) and Venture Gurukool organised the 2nd Startup India Investment Seminar on 12 November 2018 in Beijing, to expose Chinese VCs and investors to Indian startups and help Indian startups to reach out to large Chinese investors for receiving investment for their companies. The 1st Startup Indian Investment event was organised in November 2017.
Forty-two Indian entrepreneurs representing 20 Indian startups participated in the event and pitched before Chinese investors to make investments in their ventures. More than 350 Chinese Venture Capital (VC) funds, angel investors participated in a day long pitching session and seminar.
In the 1st Startup India Investment seminar, 12 Indian startups participated of which 4 secured funding from Chinese VCs of USD 15 million. In the current round 8 startups out of 20 participants are set to get commitment of around USD 30 million.
Zheng Bin, CEO of ICBC India, shared ICBC’s experience in India, gave an overview of the Indian startup ecosystem and explained the process of investment. He also informed that ICBC India has established a USD 200 million fund for investing in promising Indian MSMEs and ventures. The Industrial and Commercial Bank of China (ICBC), which set up operations in India in 2011, launched an India-dedicated investment fund in May this year.
The participating startups were: Tripshelf (travel), OfficePass (Rental Solutions), Snapmint (shopping/marketing), Sattviko (Food), Roar Media (Media), Roadpiper (logistics), Numbermall (e-commerce), NirogStreet (Ayurvedic medicine), Moengage (marketing), log9 Materials (new energy vehicle), Eremedium (health-education), HomeCapital (housing finance), HalaPlay (online gaming), Grabonrent (rental solutions), Golive Games (online gaming), Eshopbox (e-commerce), Confirmtkt (travel), Ambee (environment), Scholr (education), and Bisbo (media).
A panel discussion was also organised to discuss effective strategy for Chinese VCs to enter the Indian startup market and share their experiences about the Indian startup ecosystem.
