Forbes on the rising share of Chinese investors in India’s startups:
The biggest highlight was Jack Ma’s Alibaba Group Holding and its finance arm Ant Financial. Aiming to gain a stronger foothold in the country’s surging internet retail space, they invested a combined $680 million in mobile wallet Paytm. Alibaba’s investment is bearing fruit now, as Paytm, riding the demonetisation wave and ongoing cashless economy drive in India, has been witnessing over a million transaction per week since last November.
Chinese internet giant Tencent Holdings led a $175 million funding in WhatsApp’s India rival Hike, and prior to that, it led a $90 million round in healthcare startup Practo. Tencent, through its joint venture with South Africa’s Naspers, also invested in Indian online travel firm Ibibo Group. Similarly, Ctrip, one of China’s largest online travel companies, also invested $180 million in travel portal MakeMyTrip.
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