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Inc42 Shots | With Over $15 Bn Raised, Reliance Jio Plots Indian Tech Domination

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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Inc42 Staff