India

StcokGro doubles as a platform where users can build connected communities.

Besides Gupshup, the list of companies in which Tiger Global invested this week at a billion dollar valuation include Cred, Groww, and ShareChat.

As per industry body Nasscom, which tracks tech startup ecosystem in India, there were over 2,100 deep tech startups till mid last year.

This is Tiger Global’s third investment this week, the other two being a USD 200 million round in credit card payment company Cred and USD 83 million in wealth tech startup Groww.

The current round of funding has valued the company at a little over a billion dollar, about three times more than its previous valuation seven months ago, thus catapulting it into the unicorn club.

By the financial year 2025, e-pharmacy firms in India are likely to reach a gross merchandise value of USD 13.3 billion.

The latest funding has boosted the Bengaluru-based startup’s valuation to almost USD 5 billion from USD 3.7 billion in February last year.

In the three months ending March 2021, funding into the world’s third largest startup ecosystem was driven by large financing rounds in big startups.