NIFTY 50

Startup Street: Here's the findings of India SaaS Report 2020 & Warburg Pincus acquires Rivigo

Updated : December 01, 2020 09:20:34 IST

Indian SaaS companies have evolved from a few upstarts in the 2010 to a multibillion-dollar industry today. According to the India SaaS Report 2020 released by Bain & Company today, SaaS companies founded by Indian entrepreneurs are poised to reach between $18 to $20 billion in revenue, with the potential to capture a 7 to 9 percent share of the global SaaS market by 2022.

It is interesting to note that in just the last five years, the number of funded SaaS companies has more than doubled and the number of SaaS companies drawing Series C or later stage capital has quadrupled.

Warburg Pincus via its Mauritius investment entity Spring Canter is acquiring additional shareholding in logistics unicorn Rivigo Services. India's competition watchdog CCI has approved this additional shareholding, according to a release by the ministry of corporate affairs.

Warburg Pincus and Elevation Capital, formerly SAIF Partners, are the key investors in the logistics startup based out of Gurugram. Siddarth M Pai, founding partner, 3one4 Capital and co-chair Regulatory Affairs Committee, IVCA spoke to Startup Street about what this means for the space.

Online insurance marketplace PolicyBazaar has launched a new vertical for customers to buy job loss or income loss insurance. The company is also in the middle of raising a new round of funding at a higher valuation. Yashish Dahiya, Group CEO, PolicyBazaar spoke to Startup Street.

Watch this video for more.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you