NEW DELHI, NNA- India’s information technology industry lobby group Nasscom will lead a delegation of technology startups to Japan early next month to meet potential investors of the newly created Japanese Venture Capital Network.
A group of Indian startups will present their ideas for solving socioeconomic issues in the domestic market to over 50 Japanese VC firms and institutions of the network to explore opportunities for fund raising. The network was formed in May.
Among 1,504 firms, “26 Indian tech startups from various sectors have been shortlisted to participate in the Tokyo pitching session at the Indian Embassy with the Japanese investors on Sept. 3 and 4,” Gagan Sabharwal, senior director of global trade development at Nasscom, told NNA in a phone interview Wednesday.
The startup founders in various sectors from agriculture and food to cybersecurity and healthcare, such as fashion and lifestyle wholesale platform operator Wholesalesbox Internet Pvt. Ltd. and health tech provider MillionEyes Healthcare Pvt. Ltd., are looking to raise a sum of more than $2 million to a maximum of $10 million, according to Nasscom.
According to Startup India, a flagship initiative of the government to promote startups in the country, Japanese VC investments in Indian ventures have reached over $10 billion.
A 2019 report by audit firm Ernst & Young LLP on private equity and venture capital investment trends in Indian startups found that investment in local startups increased 84 percent to $6.4 billion from $3.5 billion in 2017.
“2018 was also the best year for start-up investments, surpassing the previous high of $4.8 billion recorded in 2015,” the report said.