India is at number 3, after the US and China, with the most number of well-funded (more than $100 million) e-commerce companies in the world, according to a report by CB Insights.
Image Courtesy: CB Insights
With 10 companies that have received more than $100 million (approximately Rs 665.27 crore) in funding, India’s share in the top global e-commerce companies stands at 14%. The US contributes 36% to the chunk and China 29%.
These include Flipkart, Snapdeal, Quickr, Shopclues, CarTrade, Paytm, Pepperfry, Lenskart, Naaptol, and FirstCry.
However, India trumps the US if the total amount of funding received by these companies is considered and not only the ‘number’ of companies that received the $100 million funding. If the former is considered, China still claims the mantle, and India outpaces the US to come at number 2. “This is due to the fact that India has several e-commerce companies with massive levels of funding including Flipkart ($4.65 billion) and Snapdeal ($1.76 billion).
However, the report says, despite massive fundings, the latest rounds are also indicative of “down rounds and down exits in their struggle to survive amidst tough competition and operational challenges,” the report said.
It added, “Flipkart’s recent financing of $1.4B (mentioned above) was actually a downround in which the startup’s value fell to $11.6B (down from $16B in 2015).
Globally, there are 70 companies that have received over $100 million in funding.
Here are the Indian companies and the amount of funding they have received so far:
China's biggest e-commerce company in terms of funding is China Internet Plus with $3.3 billion, and in the US, it's Carvana with $935 million in funding.
