It all started since coronavirus pandemic, which began in Wuhan in China, grasped the whole world, ever since then there is a significant worldwide movement to boycott China-made products and services.
Presently with the India-China deadlock and following conflict at the outskirt at the Galwan Valley in Ladakh, wherein a dispute, 20 Indian soldiers were martyred, outrage against China is further increasing.
In the meantime, there is likewise a developing requirement for India to depend on itself as proposed by the ‘AtmaNirbhar Bharat‘ activity of the Modi government which urges Indians to deliver and utilize ‘Make In India’ products.
A recent report published by the Gateway House’, a foreign policy think tank associated with the Indian Council on Global Relations, estimates Chinese technology investment of $ 4 billion in Indian startups.
Among India’s top 30 unicorns (startups worth over $1billion), 18 are Chinese funded and technology-driven.
Anoop Mishra, India’s leading social media Strategist and Founder of OnlyForStartups.com Initiative, said – “China has invested more than $6 billion via FDI in India. There are 75 big companies in India that are leading to services like big e-commerce, Fintech, Social Media, Aggregation & Logistics In India. China also has major stakes in 18 out of 30 unicorns of India. (Unicorn is called a private startup company valued at over $1 billion).
He further added that these unicorns may have ‘desi face’ but their Investors are the same Chinese ‘videsi’, so as far Boycotting China is just not an option, they will come back with new Indian faces until we stop their backdoor entries. We have to Implement policies that not only recognize and support potential Indian Startups but also protect them against foreign financial investment hacks.
According to the published report, it states that 92 major startups funded by China.
Here’s the list of 18 Indian unicorns funded by Chinese investors:
Paytm (Pay Through Mobile) is an Indian electronic payment and e-commerce company. It is the first Indian company to receive funding from the Chinese e-commerce company Alibaba & SAIF Partners.
It is a cross-platform instant messaging services for smartphones. Recently, a new cycle of funding around $150 million led by Chinese Internet giant Tencent Holdings and Foxconn Technology Group of Taiwan.
It is one of India’s mobile apps based on transportation network companies. The Chinese car app company ‘Didi Chuying (Didi Kuaidi)’ has invested $500 million in Ola. So far, Ola has raised around Rs. 8200 crores fund through 21 investors.
It is India’s one of the largest e-commerce companies. Its top investors are BlackRock, SoftBank, Kalaari Capital, Nexus Ventures, and eBay Inc. The surprising thing is, that it’s one of investor SoftBank Group has the largest shareholder in Chinese e-commerce giant Alibaba Group Holding Ltd who has invested around $700 million.
Make My Trip & Go IBIBO
MMT India’s one of the largest online travel company recently bought the Ibibo Group and bring together the top travel brands like MakeMyTrip, goibibo, redBus, Ryde, and Rightstay under a single umbrella. Naspers (South African Based) and Tencent (Chinese investment holding company) jointly held a 91% and 9% stake in Ibibo respectively.
India’s largest online supermarket delivering all your personal and household needs right to your doorstep. The giant Chinese investors Alibaba Group & TR Capital has invested $250 million. Its other investors are Sands Capital, Mirae Asset, Helion Venture Partners, Bessemer Venture Partners.
India’s leading provider of supplemental school curriculum classes for Class 6-12 & Test Prep Training for CAT, JEE, IAS, GMAT & GRE.
The Chinese multinational conglomerate holding company ‘Tencent Holdings’ has invested $250 million in Byju. So far, Byju has raised around $785 million funds through 10 investors.
India’s largest and most profitable Logistic company Delhivery has secured $413 million in a funding round led by the SoftBank Vision Fund. Existing investors Carlyle Group and Fosun International ( Chinese Investor who invested $25 million ) also participated in the funding round, which has put Delhivery in the coveted unicorn club with its valuation rising to more than $1.5 billion.
India’s biggest fantasy sports platform with 8 Crore+ users playing Fantasy Cricket, Football, Kabaddi, Basketball, Hockey, Volleyball, Baseball and Handball. The company was valued at $700 million in September 2018, when it raised $100 million from Chinese internet giant Tencent Holdings.
It is an Indian e-commerce Company (now owned by Walmart)which was founded in 2007 by two IITians (Delhi) Sachin Bansal and Binny Bansal. Flipkart has raised almost 7.7 billion USD with 22 rounds of funding from various investors. Recently, it has raised the biggest ever start-up funding around $300 million from Steadview Capital, Tencent Holdings Ltd(Chinese Investors), eBay Inc., and Microsoft Corp.
India’s one of the largest and fastest-growing hospitality chains of leased and franchised hotels, homes and living spaces. The Chinese car app company ‘Didi Chuying (Didi Kuaidi)’ & China Lodging Group has invested $100 million ( Rs 700 crores ) in OYO.
An Indian insurance aggregator and a global financial technology startup. Policybazaar.com has so far raised US$366 million in 7 rounds of funding since its inception in 2008. It has also raised investment from Steadview Capital management.
Quikr India Pvt Ltd, which runs online classifieds and services portals, has so far raised more than $400 million from investors such as Matrix Partners India, Warburg Pincus, Tiger Global, Norwest Venture Partners and Omidyar Networks. It last raised $150 million in a Series H round in April 2015 from Kinnevik, Tiger Global and Steadview Capital, in a round that valued the firm at nearly $1 billion.
Logistics unicorn Rivigo is raising a Series F round of ₹141.97 crores ($20 million) from existing Chinese investors SAIF Partners, India VI Ltd and Spring Canter Investment Ltd.
India’s largest and most valuable online food ordering and delivery platform. With the latest funding, which was led by existing investor Naspers Ltd and also saw participation from China’s Meituan Dianping, Hillhouse Capital, Tencent Holdings & SAIF Partners Swiggy has become the fifth most valuable startup in the country.
Udaan, the fastest Indian startup to achieve unicorn status, has raised $585 million in its latest round of funding, valuing the online business-to-business marketplace at $2.5-3 billion. Tencent Holdings is one of the leading investors with a $100 million investment.
An Indian restaurant aggregator and online food delivery unicorn Zomato has reportedly raised $150 Mn At $3 Bn valuations from existing investor Ant Financial, which is an affiliate of Chinese e-commerce business Alibaba.
Other Companies with Chinese investors are:
- BigBasket, Dailyhunt, Healofy, Paytm Mall, Paytm.com, TicketNew, Vidooly, Xpressbees, Rapido, Snapdeal, Zomato
- Byju’s, Ola, Doubtnut, Dream 11, Flipkart, Niyo, Gaana, Hike, Khatabook, MXPlayer, Mygate, Pine labs, Pocket FM, Practo, Swiggy, Udaan
XIAOMI (Shunwei Capital)
- City Mall, Hungama Digital Media Entertainment Pvt. Ltd., Marsplay Internet, Oye! Rickshaw, Rapido, Sharechat, ZestMoney
Note: Highlighted names are unicorns (worth over $1billion)
Do you believe that Chinese products and services must be banned? Will banning Chinese products be a plus for ‘Made in India’ products and services? In the face of border clashes should India end all trade associations with China?