Udaan
Singapore court clears Pine Labs plea to move domicile to India
The approval from Singapore's court paves the way for Peak XV Partners-backed Pine Labs to shift its domicile to India. Multiple other companies of Indian origin including Meesho, Razorpay, Zepto and Udaan are in different stages of moving to India. PhonePe and Groww have already completed their migration to India.
Hunger games: Investors at the table with appetite for food startups
Pizza Wings, Boba Bhai in funding talks as HNIs, angels and other backers show interest
'Udaan' actress Kavita Chaudhary succumbs to cardiac arrest at 67; friends mourn loss
Actress Kavita Chaudhary, known for her role as IPS officer Kalyani Singh in 'Udaan', passed away at 67 due to cardiac arrest on February 15. Battling cancer, she was undergoing treatment in Amritsar. Close friends and colleagues, Anang Desai and Amit Behl, mourned her sudden demise, reminiscing about their time together at the National School of Drama.
Udaan FMCG biz head Vinay Shrivastava quits; fourth senior exit since Sept’23
Udaan's FMCG business head, Vinay Shrivastava, has resigned amid a series of senior exits at the B2B e-commerce firm. Shrivastava, with nearly four years at Udaan, contributed to significant growth in market share and business. Udaan is restructuring its teams and business verticals, merging essentials with discretionary business. Shrivastava's departure follows the exits of the group CFO and other senior executives since September 2023. The company recently raised $340 million in Series E, but its valuation reportedly fell to around $1.8 billion in a down round.
Lightspeed appoints Vivek Gambhir, Kevin Aluwi as venture partners for India, Southeast Asia
The move to bolster its India and Southeast Asia team comes at a time when local and global peers such as Peak XV Partners, Elevation Capital and Accel have doubled down on the region by raising record capital amid a funding downturn.
Promoter tag for Prosus in Swiggy IPO; SaaS play for revenue-linked financiers
Swiggy's largest investor Prosus is likely to be tagged a promoter in the company as plans for trimming stake ahead of an IPO haven’t materialised. Details of this and more in today's ETtech Morning Dispatch.
Apple iPhones lift electronics exports; Udaan CFO exits
Apple’s iPhone led the charge in India’s booming smartphone exports, contributing significantly to a record 22.24% growth in overall electronics exports, which surpassed $20 billion in the first nine months of FY24.
InterGlobe Enterprises appoints Aditya Pande as Group CEO
Aditya Pande has been appointed as the Group Chief Executive Officer of InterGlobe Enterprises, effective from March 1, 2024. This move follows Pande's resignation as the Chief Financial Officer of Udaan, concluding a three-year tenure. Apart from IndiGo, Pande will have the overall responsibility of setting InterGlobe's strategic agenda and overseeing the leadership of the company's line businesses and corporate staff functions.
Udaan CFO Aditya Pande resigns; firm announces senior-level changes
Kiran Thadimarri, group finance controller, will be elevated to the executive management team. Further, Vishnu Menon, head - corporate strategy & investor relations, has been given additional charge of business finance.
Udaan’s valuation plummets; draft rules for fintech self-regulatory bodies
Business-to-business (B2B) ecommerce platform Udaan has taken a major hit with its valuation being chopped by nearly half to $1.8 billion in a down round. This and more in today’s ETtech Morning Dispatch.
Udaan valuation dives to $1.8 billion in down round
Bengaluru-based Udaan was last valued at $3.2 billion following a funding round in January 2021. It closed a $340 million financing last December by largely converting debt notes into equity. The round also included a fresh equity infusion. It did not disclose the valuation.
More startups India-bound, map ‘reverse flip’
Pine Labs and Udaan are the latest to plan shifting their holding companies to India with an eye on the long term. They join several other well-funded and highly valued startups that are moving their overseas holding companies to India — or ‘reverse flipping’ ahead of listings.
Bose picks up minority stake in Noise; Udaan fires over 100 employees
In what could potentially strengthen homegrown audio accessories and wearables brand Noise’s foothold in a tightly contested segment, the company has closed its first ever fundraise from global audio devices maker Bose. This and more in today’s ETtech Top 5.
Udaan lays off over 100 employees shortly after $340 million fundraise
Most of the job cuts happened in the go-to-market (GTM) team, which handles relationships with sellers, among other responsibilities, people in the know said. The layoffs, the sources explained, were due to redundancies following a rejig of the business in September.
Footpath Ventures eyes stake in Rajasthan Royals; IT hiring picks up
US-based Footpath Ventures is in advanced talks to pick up a stake in Rajasthan Royals, a franchise in the Indian Premier League (IPL). This and more in today’s ETtech Morning Dispatch.
Udaan's fundraise; VC-backed listed tech firms hit $50B market cap
Business-to-business (B2B) ecommerce firm Udaan has raised $340 million through conversion of its debt and fresh equity infusion. This and more in today’s ETtech Top 5.
Udaan raises $340 million in funding from UK’s M&G Prudential, others
The funding round also saw participation from existing investors such as Lightspeed Venture Partners and DST Global, the firm said in a statement. ET had first reported on talks between the UK-based firm and Udaan on October 20.
udaan announces $340 million series E financing
With this exercise, udaan’s business is fully funded and on course to achieve its objective of becoming profitable in the next 12-18 months.
Narayana Murthy's Catamaran plans to invest in precision manufacturing companies
Catamaran has invested in companies like SpaceX, deep-tech energy startup Log 9, B2B e-commerce firm udaan, edtech firm udemy, and fintech firm Acko, among others.
Ecommerce startup Udaan to trim costs ahead of 2025 IPO
Lightspeed Venture Partners-backed Udaan is among startups trying to tap the rapid growth of India’s economy and consumer market, while meeting investor demands for profitability. Udaan, which at its peak employed thousands, joined fellow Indian startups in slashing jobs last year and tightening internal controls and compliance. It now has about 1,800 staff, and Gupta didn’t specify if further job cuts are needed.
udaan reports over 300% rise in premium FMCG packs sales
In the last one year, the FMCG category, in particular, has surged, achieving an impressive two-fold increase in size.
Byju’s plans a PE lesson for Aakash; inside Udaan’s funding
Byju’s is talking to a few private equity firms to offload a controlling stake in Aakash Institute, one of the beleaguered edtech’s prime assets, sources told us. This and more in today’s ETtech Morning Dispatch.
UK’s Prudential may lead Udaan down round; below $2 billion value seen
The Lightspeed India-backed startup is likely to see a significant drop in its valuation, to under $2 billion during the new financing round compared with its last peak valuation of $3.2 billion, said people aware of the contours of the deal being discussed.
'Udaan' director Vikramaditya Motwane talks about his film-making process, says he's not someone who revisits his past work
Filmmaker Vikramaditya Motwane revealed that he rarely revisits his past work as he always finds something to nitpick. However, he recently watched his 2010 film 'Udaan' out of curiosity. Motwane believes that he knows what he could have done better in his films, which is why he avoids rewatching them.
Zerodha's Nikhil Kamath invests Rs 100 crore in Nazara; Udaan CTO to exit amid rejig
Game on! Online gaming and media firm Nazara Technologies on Monday said it was raising Rs 100 crore from Nikhil Kamath, cofounder of retail stockbroker Zerodha, via an equity share issue. This and more in today’s ETtech Top 5.
udaan announces organisational changes in business and tech verticals
While the Essentials business will be integrated with the Discretionary business, the product and engineering will branch out as separate functions.
Aim is to create 2 cr 'lakhpati didis' among SHGs: PM Modi at Red Fort
The PM said that 15,000 Women's Self-Help Groups would be given loan and training for operating and repairing drones. "Drone ki Udaan" will be carried out by these Women's Self-Help Groups, said PM Modi. Among others, PM Modi announced the launch of the 'Vishwakarma Yojana', in the coming days. The scheme is planned to benefit individuals skilled in traditional craftsmanship.
udaan expands rural network coverage in Uttar Pradesh under ‘Project Vistaar’
Project Vistaar aims to empower small retailers and kirana store owners by providing them access to a wide variety of food and fast-moving consumer goods (FMCG) products.
India not for the fainthearted, but worth it: Lightspeed’s Bejul Somaia after Sequoia’s exit
In a lengthy note posted on Twitter, he said India is not for the fainthearted, but its potential is compelling.
PM Modi fulfilled dreams of middle class: Amit Shah
"PM @narendramodi Ji unveiled an era of #9YearsOfEnabledMiddleClass by realizing their aspirations. Whether it is opening up new educational institutions for their children to excel, handing them over subsidized homes, or creating lakhs of jobs, Modi Ji fulfilled their dreams," Amit Shah tweeted.
flybig, Royal Bengal Holding sign pact for aviation business
"This strategic investment will be a significant boost to the network expansion of flybig. With Royal Bengal Holding Inc's support, we will be able to expand our operations and provide even more connectivity to underserved areas of the country," Saanjay Mandavia, Chairman and Managing Director of flybig, said.
Reliance announces distribution partnership with Udaan for Campa Cola
The three Campa flavours on the Udaan platform will be available under multiple price points, including 200 ml, 500 ml and 2,000 ml family packs for in-home consumption, the statement said. “To create awareness about the availability of the Campa range, Udaan will work on various retailer promotions to drive expansion and increase the buyer base on the platform,” the retailer said.
Exclusive: Dunzo secures funding via convertible notes, lays off 30% of staff
About $50 million of the funding is coming from Google and Reliance Retail while other existing investors are putting in the rest.
Udaan plans to expand FMCG reach six-fold to 10,000 small towns, villages
Udaan has undertaken an ambitious project by the name of "Project Vistaar' to grow the FMCG business and tap rural opportunities.
Fintech startup GrayQuest raises $7 million in funding led by Pravega Ventures
The round was led by Pravega Ventures, with participation from family investors such as Weizmann Group, Telama Family Office and Apurva Parekh from the Pidilite Family Office, it said in a statement.
Number of airports in country to go up to over 200: Jyotiraditya Scindia
"We are just one short of doubling that number. The 148th airport will be also completed this month itself which means that what India took 66-67 years to build and under the leadership of Prime Minister Narendra Modi that has been done in a period of nine years." he told reporters.
Udaan product shipment jumps six-fold to 1.7 billion in 2022
The Lightspeed Venture and Microsoft-backed unicorn had shipped 260 million products, catering to over 22 million orders, and driven by demand for FMCG products, catering to around 50 million orders in 2021.
Exclusive: Dunzo eyes $100 million via convertible notes amid tough equity funding market
Reliance-backed co latest to tap alternative routes to secure funds. The round is in advanced stages of closure and could finally settle in the range of $70-100 million.
ETtech’s 2022 Year in Review Special
Over the past few weeks the ETtech team has been chronicling all the big news events that shaped 2022. We’ve tried to make sense of all the important developments that have impacted companies, sectors and people working in the tech and startup sector. Today we are replugging our exclusive State of Startups survey, the most important CXO movements, widespread layoffs, and analysis on what 2023 will be like for sectors like fintech and edtech.
2022 | The year of governance misses, layoffs, a funding winter & regulatory diktats
In the span of a year, the technology world went from euphoria to turbulence – be it in the stock markets or in the private funding space. Collapse of FTX and the crypto sector to the sale of Twitter to Elon Musk, globally tech news hogged the headlines through the year.
Startups laid off 18,000 employees in 2022; Udaan, Ola, Oyo saw the most senior-level exits
This time last year, India’s startup ecosystem was counting unicorns. Now, it’s tallying layoffs. According to data compiled for us by Longhouse Consulting, 52 of India’s new-age companies fired almost 18,000 employees between them in 2022. Shockingly, almost half of these took place at just 15 edtech companies as Covid’s retreat battered the sector.
2022 Year in Review | Udaan, Ola and Oyo log most senior executive exits this year
At least 50 top executives - ranging from C-suite to category and business heads - left Udaan in 2022, as the company grappled with funding and business model issues, even as two of its founders moved away from active roles over the course of the year.
Reliance Retail to pick up Metro's India biz for ₹2,850 crore
As part of the deal, Reliance will get 31 large format stores in 21 cities as well as the realty portfolio that includes six store-occupied properties, 3,500 staff and Metro's 3 million B2B customers, of which 1 million are frequent buyers.
2022 Year in Review | Tech firms embrace layoffs as recession fears build
After two years of staggering growth during the pandemic, online businesses were caught out when Covid began to fade. Russia’s invasion proved the final straw. Suddenly, tech companies found themselves with far too many employees, and proceeded to conduct layoffs for the rest of the year.
ETtech Long Read: Why China’s group buying model hasn't clicked in India
Under group buying, companies sell products at much lower prices to customers provided they place orders as a group. Chinese internet firms such as Pinduoduo had perfected group buying to a fine art, racking up hundreds of millions of users, and Indian startups were hoping to replicate that success here.
Udaan raises another $35 million in funding from EvolutionX via convertible notes and debt
Udaan’s latest funding comes close on the heels of $120 million raised through convertible notes and debt from existing shareholders and bondholders in October.
DBS, Temasek-backed EvolutionX to invest in udaan
The fund seeks to accelerate the digitisation of Asia’s economy by investing into next generation technology leaders and empowering them to scale faster and expand into new markets.
Employees sue Twitter as bloodbath looms; Udaan sacks another 1,000
Elon Musk’s Twitter, as expected, has begun the process of sacking about half of its 7,500 workers by cutting access to their laptops, emails and internal Slack channels. Anticipating the mass layoffs, employees filed a class-action lawsuit against the company, accusing it of violating US law by not giving them enough notice.
US tech layoffs skyrocket as companies struggle with shrinking global economy
Sackings have intensified over the past few days, with several startups -- foreign and Indian -- firing workers to cope with the severe dearth of funding amid macro headwinds.
Udaan fires over 1,000 employees in second round of layoffs
This is the second round of layoffs for Udaan after it laid off 180-200 employees, or 5% of its workforce, in June. Back then as well, the company had laid off 700-800 off-roll employees.
Updates from Elon Musk-Twitter saga; Udaan takes convertible notes route to raise $120 million
Elon Musk now calls himself ‘Chief Twit’ on Twitter. On Wednesday, the Tesla and SpaceX boss sauntered into the microblogging platform’s San Francisco headquarters, armed with a sink. “Entering Twitter HQ — let that sink in!” he tweeted later, posting a video of his entry. It’s not clear if he was just being a twit or conveying a message that Twitter had a ton of troubles (kitchen sinking refers to acknowledging every bit of bad news in one go). But at the very least, it looks like he is finally buying Twitter. And he clarified that he would not be firing 75% of the staff, as had been speculated. But there could be more twists in this pretzel-shaped tale before the Friday court deadline to close the deal passes.
Udaan raises $120 million through convertible notes, IPO delayed
Udaan CEO had told ET on February 16 that the company was planning to go public by May 2023.
Lightspeed-backed udaan raises $120 million
With this round, the total funds raised by udaan through convertible notes and debt in the last four quarters have crossed $350 million, making it one of the largest structured instrument fund raises in the country.
Late-stage startups tap alternative funding routes amid softening valuations
To preserve their valuation, Udaan, PharmEasy shore up capital through debt instruments like convertible notes.
Venture debt fund BlackSoil raises Rs 250 crore in fresh capital
The funds raised will be invested in mid- and growth-stage startups through its debt products
Philanthropic Pledge led by startup founders commit Rs 50 crore to turn around govt schools
The initiative involves applying the best practices and techniques from leading ed-tech companies in government schools to build capacity among teachers, step up physical and digital infrastructure to achieve better learning outcomes, higher enrolments and retention of children, the YIPP said in a statement.
Udaan starts multiple deliveries per day for pharmacies in six cities
The 4X4 delivery service' has been rolled out after a pilot programme and receiving extensive feedback from pharmacies in select cities, which required enhanced delivery capabilities. During the pilot phase, the business witnessed a 45 per cent rise in orders in the select cities.
udaan announces ‘4X4 delivery service’ for pharmacies
The pharmacies opting for ‘4X4-hour delivery service’ will also enjoy benefits of up to a 30-day credit period along with attractive offers on the total order value on items available on the platform.
udaanCapital enables credit of Rs 2200 crore to over one lakh retailers
udaanCapital’s proprietary risk algorithms leverage alternate datasets such as transaction patterns and trade invoices to pre-select borrowers, enhance lenders partner’s underwriting decisions and improve approval rates for borrowers by 35%.
Over 150 FMCG brands joined udaan platform in last six months
udaan has built inclusive tech tools for Bharat, specially catering to the needs of brands, sellers, retailers & manufacturers providing them a level playing field to scale, trade and grow their business.
Udaan, Jiomart led India's B2B e-commerce market to reach $100 bn by 2030
It is further projected that the B2B general trade opportunity in India will reach $1.2 trillion by 2030, with eB2B coming up as a promising digital procurement solution, according to a report by Redseer Strategy Consultants.
English learning startup OckyPocky raises funds from Goodwater Capital & Quant Fund
The startup will use the funds to grow its platform distribution, and add more vernacular languages to its platform.
Lightspeed raises $500 million to invest in startups across India, Southeast Asia
Bejul Somaia, partner, Lightspeed, who set up the fund’s India franchise in 2007, has been promoted to the global leadership team.
Correction just getting started, says Alpha Wave; early-stage deals bloom in ‘funding winter’
This, he said, has left the fund perfectly poised to land deals for “outstanding companies at sane prices” as it believes the correction in private markets has only just begun.
Udaan fires 180-200 staff, 5% of its workforce, to cut costs
A company spokesperson confirmed the development to ET without disclosing the number of employees it had fired.
Covid outliers: Smaller e-commerce brands that thrived during the pandemic
Platforms such as Amazon, Flipkart, Udaan and Meesho have helped many consumers discover numerous small brands. The frenzy to add more sellers on the platforms and the race to the hinterland to connect with more buyers have helped these manufacturers grow at a faster clip. High smartphone penetration, cheap data and consumers’ eagerness to shop online during Covid have helped these local businesses.
Udaan on track to hit positive unit economics in June quarter: CEO to staff
Gupta said Udaan had also reported contribution margin ‘level 2’ of profitability — it includes the cost of logistics and distribution — in the first quarter of last fiscal. It had achieved contribution margin ‘level 1’ in the last quarter of FY21, which included the cost of warehousing and manpower. Internally this is referred to as CM1.
Govt to plug Aadhaar gaps, curb misuse; Udaan ‘on track’, CEO tells staff
UIDAI also plans to integrate its data with death registration records to prevent people from using Aadhaar numbers of deceased citizens to claim benefits.
udaan eyes strong sales in cold beverage segment
To achieve growth the company is ramping up its inventory and has partnered with beverage makers like Paper Boat, Rasna, Dabur, Redbull and Coca. It aims to cater to lakhs kirana retailers this season through its extensive distribution reach covering over 1200 cities.
Third Wave Coffee is brewing new funding round led by WestBridge
The round also includes a secondary share sale in which some of its early individual investors will exit. Once the deal is closed, the startup is expected to be valued at $80-100 million, people briefed on the matter said.
Disputes between North-Eastern states will be settled soon, says Assam CM Himanta Biswa Sarma
Referring to the overall peaceful environment prevailing in the region in contrast to the scenario a decade back, Sarma thanked the Prime Minister for the withdrawal of the Armed Forces Special Powers Act (AFSPA) from many districts of Assam and other states of the northeast.
Microsoft joins Udaan’s debt funding round
With this, Udaan has now raised a total of $225 million through convertible notes.
Smartr Logistics plans to enter third-party logistics biz; to set up 15 fulfillment centres
Launched last year, the logistics tech-startup also plans to expand its presence to over 250 cities and 6,000 PIN codes by this year-end.
Kodak, Treeview announce distribution partnership for televisions
Kodak and Treeview range of televisions will be available under the electronics category on the udaan platform to electronics and large appliances retailers across 100 cities in East and North-East India.
The business secrets held in India’s Nutella jars
Ninety per cent of the country’s trade passes through neighborhood “kirana” shops, each with annual sales of $0.5 million or less. Their owners mostly operate without business registration and lack access to the formal banking system.
udaan shipped over 260 million products across 1000 cities in 2021
Demand for staples products grew by 45% YoY and included 12 lakh tonnes of sugar and oil and 5 lakh tonnes of rice, pulses and flours.
Govt may junk data bill, start afresh; Grover taps Gen Z
The government may ditch this bill entirely and draft a new one that’s more “aligned with the current times”.
Udaan to go public by May 2023, announces new Esop plans
Udaan also announced that it will issue employee stock options (Esop) to every employee and made a key change in its policy under which they can now vest stocks every quarter, instead of waiting for a minimum of one year.
B2B ecommerce platform udaan removes 1 year ESOP cliff
The one year ‘cliff’ period is a widely prevalent industry practice that requires employees to wait for one year for their ESOPs to start vesting.
Lightspeed Venture Partners to increase its focus on growth deals
Lightspeed’s other investments in India include Darwinbox, Yellow Messenger, OK Credit, Apna, Dukaan, and Teachmint.
Hard-hit hotel sector eyeing these measures in Budget to recover from Covid blow
The hospitality sector, like the realty sector, has been demanding 'infra' status for a long time. Any such grant would be welcomed
Australia’s Blackmores joins hands with udaan to expand it's distribution network in India
The pharma category on the udaan platform will provide independent pharmacies the access to Blackmores’s products through its distribution footprint connecting 25 cities.
Metro AG reviewing cash & carry business in India
Metro has appointed consultancy firm Bain & Company to identify options and the final decision is likely to be taken in the next two to three months, said the executives who asked not to be identified.
ETtech Deals Digest: Fractal, OpenSea, Dunzo raise funds
New York-based artificial intelligence firm Fractal, blockchain marketplace OpenSea and quick commerce platform Dunzo were among the startups that raised funding this week.
Distributors suspend movement against Colgate
The distributors, who had accused large fast moving consumer goods companies of selling their products at lower prices to wholesalers such as Reliance JioMart, Metro Cash & Carry and business-to-business platform Udaan, had said earlier this week that they would intensify the protest against Colgate-Palmolive.
Udaan closes $200 million debt financing through convertible notes
For Udaan, which has said it intends to go public in the next 18-24 months, the move to pick up debt financing through convertible notes comes across as being significant. These investors will have the option to flip their convertible notes into equity at a later stage, potentially before the IPO.
Rapid digitalisation drives B2B ecommerce during pandemic
As traditional supply chains that served Indian businesses dried up amid Covid-imposed restrictions, well-capitalised B2B ecommerce players grabbed the market by coming to the aid of raw material-starved businesses.
FMCG firms move to ease traditional distributors' pain
The development comes amid an escalating conflict with traditional distributors who have accused grocery and fast-moving consumer goods (FMCG) companies of selling their products at lower prices to wholesalers such as Reliance JioMart, Metro Cash & Carry and business-to-business (B2B) platform Udaan.
Udaan to take on Meesho, DealShare as it enters consumer-facing grocery business
Udaan, with its new platform Price Company, is entering the consumer-facing grocery business through the group-buying or community model, a la Meesho and DealShare which are focusing on non-metro markets.
Udaan gets going on groceries; crypto players feel the heat
Scrappy B2B ecommerce upstart Udaan and Tata Digital-owned BigBasket are taking different approaches to corner as much as possible of India’s burgeoning online grocery space.
Recordent raises $400,000 from Family Office of Kantamaneni, IIM Calcutta Innovation Park, others
Recordent is working with more than 50 SME industry associations and plans to continue establishing partnerships to add value to the association members in their credit management practices by improving collections and reducing credit risk.
Udaan’s food & FMCG business achieves 95% YoY growth
To cater to the growing demand, udaan plans to scale its warehouse capacity to 50 million square feet across the country in the next 8 years.
Piyush Goyal calls upon CAs to self-regulate
Emphasising that the profession of CAs is that of a gatekeeper, he said they should introspect and think of ways to revive the credibility of the profession as honesty, loyalty and ethics are integral to this field.
Udaan’s sale to offer discounts for SMEs, kirana shops
This sale is aimed at benefitting lakhs of small retailers and kirana shop owners especially from Tier 2, 3 cities.
Unicorns Unacademy, Udaan, CRED top 2021 LinkedIn Top Startups India list
With these top three unicorns, and nearly 60% of the 2021 LinkedIn Top Startups India List based out of Bengaluru, the city has reinforced its reputation as the "Silicon Valley of India".
Udaan rejigs board, co-founder, Vaibhav Gupta, appointed as CEO
This is in line with the evolution needed for udaan to become a publicly listed entity over the next 18-24 months.
Udaan names cofounder Vaibhav Gupta as CEO, eyes IPO in 18-24 months
Amod Malviya and Sujeet Kumar, the other two cofounders, will support the effective functioning of a "CEO-led organisation" and will continue to shape strategic roadmap and investment decisions as active board members.
Udaan cofounder Sujeet Kumar invests in edtech firm OckyPocky
"With this seed funding round, we will be able to further develop our technology to deliver high quality personalised learning experience enabled by an interactive and innovative approach," OckyPocky founder and CEO Amit Agrawal says.
Exclusive Interviews: GGV's Managing Partner, TCS CEO
In the first of our two exclusive interviews today, Hans Tung, managing partner at GGV Capital, told us why he remains bullish on India despite inflated valuations, and what China's regulatory crackdown means for the edtech sector here.
