E-commerce, consumer internet companies raised over $7 billion in private equity and venture capital funding in 2018: EY - Firstpost
Of all companies, startups like OYO, Swiggy, Byjus, PayTm Mall, Pine Labs, Zomato, Udaan, PolicyBazaar and CureFit have collectively raised the lion's share around $4.6 billion;
- The report titled 'E-commerce and Consumer Internet Sector – India Trendbook 2019' launched at the IVCA Conclave 2019, noted that majority of the funding was towards building the supply chain, expanding into new segments, acquisition/consolidation, and bringing innovative product offerings.
- Of all companies, startups like OYO, Swiggy, Byjus, PayTm Mall, Pine Labs, Zomato, Udaan, PolicyBazaar and CureFit have collectively raised the lion's share around $4.6 billion in 2018 of the total investments into this segment.
- Deals that stood out include - Walmart's acquisition of Flipkart at $16 billion, Alibaba's investment in BigBasket and PayTm, Tencent's investment in Dream11, and Naspers investment in Byjus and Swiggy.
- According to the report, consolidation will continue in 2019 as companies will need to add more services and segments to expand the level of engagement with customers and leverage emerging technologies including artificial intelligence (AI), the blockchain, Internet of Things (IoT) to service the market better.