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Reliance Jio has raised more money in 2020 than all Indian tech startups combined in 2019

India’s biggest network provider Reliance Jio today announced that Saudi Arabia’s sovereign fund, The Public Investment Fund (PIF), has invested $1.5 billion in Jio Platforms. That takes makes it the 11th investment in Jio Platform this year, with the Indian company raising $15.2 billion to date. With that, Jio...
India’s biggest network provider Reliance Jio today announced that Saudi Arabia’s sovereign fund, The Public Investment Fund (PIF), has invested $1.5 billion in Jio Platforms. That takes makes it the 11th investment in Jio Platform this year, with the Indian company raising $15.2 billion to date. With that, Jio has achieved a notable record: it has raised more money than all Indian tech startups combined in 2019. According to data from research firm Tracxn, Indian startups raised $14.5 billion last year. Jio’s investment spree started in April with Facebook pumping in $5.7 billion in exchange for 9.9% equity. After that,… This story continues at The Next Web
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