A group of Chinese investors, including Cyber Carrier, a Hong Kong-based Chinese internet enterprise, has jointly offered to provide $50 Million for the Indian startups. Cyber Carrier has already set up a $30 million initiative fund in January to invest in six Indian startups. The investment plans were announced at a technology summit, where about 150 seed funded startups pitched for Series A funding to a 17-member delegation of Chinese investors. Participating in the summit, Aarin Capital Partners, and former Infosys director TV Mohandas Pai said the opportunities for investment in India were immense, as 2,000 startups registered across the country in 2015, 1,250 of them got funded.
The initiative is likely to revolutionise the Indian startup space.