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Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
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Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.
As Reliance Industries Limited turned net-debt free, Mukesh Ambani’s fundraising acumen for Jio Platforms has become the hot topic of discussion in an otherwise bleak investment market. In just over two months, Jio Platforms has raised more capital than all Indian startups combined in all of 2019.
Overall, the Indian startup ecosystem raised $58 Bn across 5,011 deals between 2014 to 2019. Jio Platforms managed to raise almost 26% of that $15.08 Bn from April this year.
Jio Platforms, which runs Reliance Jio, Jio Fiber, all the Jio apps and services, started off its investment streak with Facebook, which poured in $5.7 Bn in exchange for 9.99% of stake in the company.
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