- Bertelsmann India Investments (BII), the strategic investment arm of Germany-based one of the world's largest mass media companies Bertelsmann, will invest in five-six startups in 2019.
- BII, which backs startups at Series B stage of funding, has been investing in Indian startups since 2013 and had backed companies including music streaming service Saavn (merged with Jio in December last year), Tiger Global Management-backed online classifieds platform Quikr, online lending startup Lendingkart etc.
- "While we began (in 2013) with making a couple of investments a year
- BII had exited Saavn post its merger with Jio that competes with recently launched global music streaming service Spotify along with Gaana, Airtel Wynk, Apple Music etc.
Bertelsmann’s India investment arm to bet on up to six startups in 2019
7 April 2019 6:30 PM GMT