35 qualified startups pitch for a collective fund of $50Mn
· Cyber Carrier, a $30 Mn fund setup in January 2016 to invest in 6 Indian companies
Bengaluru: The two day, Technology Issue Summit – 2016 where Indian startup companies were pitching to secure funding from Chinese Investors successfully concluded in the city today. The conclave saw participation from over 150 seed funded startups who were pitching for ‘Series A’ funding. A delegation of 17 Chinese investors is in the country exploring some potential investment avenue. The top companies got an opportunity to present their ideas in front of the panel, basis of which the Chinese delegation is expected to come up with a decision.
The two day event that kicked off on Saturday saw the participation of key players from the startup eco system. Mr. Mohandas Pai, partner at Aarin Capital Partners, spoke on the opportunities that are available for investment in India and said “We opened up for business in 1991 and are growing at about 7.5% annually. Today we have almost 4.5 million Indians working in the IT industry and we see a huge scope for development and investment in India. In the last year 2000 Startup companies were registered in India and 1250 companies got funded in the last calendar year. This shows the amount of potential and scope that the Indian market possesses. India, China and USA are going to be the growth engines in the near future and hence I feel this is a great opportunity for Investors from India and China to network and get to know the markets well”
Each of the participating firm is seeking between 4 and 10 million as funding. The Chinese investors have collectively allocated a budget of $50 Million for investment via their US dollar funds. Cyber Carrier, a firm founded in Hong Kong by Chinese internet enterprises has an initiative fund of $30Million. The fund aims to help enterprises in FinTech, B2B, E-Commerce, Healthcare, EdTech and AdTech fields. Cyber Carrier is currently headquartered in the NCR , New Delhi has taken an initiative to invest in 6 Indian focused projects.
Speaking on behalf of the Chinese investors, Jessica Wong, Partner at Cyber Carrier said “This is a very good opportunity for us to build synergies. While a few of us are keen on understanding the Indian market, others are already keen on going ahead with investing. I am personally interested to work with a few selected companies and we shall soon have an announcement to make. The delegation present here varies from people who have invested in over 30 companies globally to a few who are just here to understand the eco system.”
Speaking on the occasion Mr.Hutu, CEO of Onionfans said “We are overjoyed by the response we have received for the event. We have decided to make this a quarterly event to pilot and facilitate the integration and complementation of technology iteration, market exploration, business model upgrade and capital operation between China and India, The two most developing and creative countries in the world. Our idea is to create a comparatively harmonious environment and paving the doorway of cross-industrial collaboration between China and India accordingly”
“For Start-up companies like us this is a very good networking opportunity. We meet like minded individuals who can help each other in growth. It is very encouraging and motivating to see that the Chinese investors are very keen to hear out and understand our products and ideas. Their feedback is very helpful and first time entrepreneurs largely benefit from events like these. We have received initial interest from the Chinese delegation and are keen to hear back from them” said Mr. Brij, CEO of TryKaro.com, An experiential marketplace that helps consumers to try out the products they are keen on buying instead of just seeing pictures online.
This edition of the Technology Issue Summit was organized by Onionfans, Cyber Carrier, Technology Issue magazine and Xpressn labs.
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