SoftBank lines up over $1 billion in Q1 to fuel startup boom
BENGALURU: India’s internet economy is booming with marquee global investors putting money here like never before.
At a time like this, SoftBank, one of the most influential tech investors, can’t stay quiet for too long. It is set to invest close to $1.2 billion in Indian startups in the first quarter of the current financial year, two sources aware of the matter said.
This is in line with SoftBank’s global approach where it made several big-ticket investments in tech startups last week.
Among its bets, it is finalising an investment of around $200-250 million in ride-hailing firm Ola’s electric unit-Ola Electric while it will put at least $250 million in neo-banking startup Zeta making it a unicorn, a moniker for startups valued at $1 billion or more.
SoftBank, which counts top-tier local startups like logistics firm Delhivery, payments platform Paytm, financial services major Policybazaar in its India portfolio, is also putting anywhere between $400-$500 million in online food delivery startup Swiggy.
