Silicon Valley Funding News - Week of July 13 2020. Perfect Day Raised $160M Series C

The largest funding event of 2020 did not happen in Silicon Valley. It happened in India. 

Over $15 billion went to Reliance Jio from 11 investors in the past three months including Facebook, Silver Lake Partners, General Atlantic, KRR, Mubadala, ADIA, TPG, Intel Capital, and Saudi Arabia's Public Investment Fund.

In addition to being the largest mobile network operator in India with over 387.5 million subscribers as of 31 December 2019, Jio also operates:
JioSaavn (Spotify)
JioMoney (Alipay)
JioMeet (Zoom)
JioBrowser (Chrome)
JioCloud (Dropbox)

Its ambition is definitely beyond just another AT&T.

Meanwhile, global seed to early-stage investment counts dropped 58% and investment amount dropped 38% YOY compared to Q2 2019. 



On the topic of funding environment, I am hosting a conversation this week with Alfred Chuang (general partner at Race Capital and founder of BEA Systems) and Mancy Sun (Co-head & Managing Director, Principal Investment Area (APAC) Goldman Sachs.

Hope you can join our conversation. 

This week a total of 13 startups raised $379.8M in funding, 2 M&As:

• $38.3M goes to 4 Enterprise startups
• $9.2M goes to 2 FinTech startups
• $160M goes to 1 FoodTech startup
• $3.3M goes to 1 Marketplace startup
• $4M goes to 1 Real Estate startup
• $100M goes to 2 Healthcare startups
• $30M goes to 1 BioTech startup
• $35M goes to 1 Renewable Energy startup