Deals to e-commerce startups increased for the first time since Q1’16, reaching 190 deals in the first quarter of 2017. Funding also increased last quarter, more than doubling the $2.3B seen in Q4’16. The top three deals in Q1’17 to Flipkart, Koubei, and Uxin Pai accounted for 63% of total dollar funding during the quarter.
We wrote extensively about Flipkart’s recent round. Here’s CB Insights on the second and third biggest round:
Chinese e-commerce platform Koubei, a joint venture between Alibaba Group and Ant Financial Services Group, followed in second place with a $1.1B private equity round in Q1’17, while Chinese used-car platform Uxin Pai placed third with its $500M private equity round during the same quarter.
Not included in the numbers is Paytm raising $1.4 billion from Softbank just a few days ago.
Compared to the immense overall market potential worldwide, e-commerce startups are still relatively underrepresented in venture capital. Maybe this is finally about to change?
More on this topic:
- Flipkart Acquires eBay India and Raises $1.4Bn from eBay, Tencent and Microsoft
- Amazon’s Ruthlessness and Growing Power Across Industries Creates Powerful Enemies
- The Top E-Commerce Startups Around The Globe
- FreshDirect and the Most Well-Funded Online Food Delivery Companies Worldwide