India Digest: Andreessen Horowitz to invest $500m; MamaEarth eyes IPO

Silicon Valley-based venture capital firm Andreessen Horowitz has earmarked about $500 million to back Indian startups, while D2C skincare and beauty brand MamaEarth is weighing options to go public in the next 12-15 months.

Andreessen Horowitz plans India investment

Andreessen Horowitz, which made its maiden India investment last year, has earmarked about $500 million to back Indian startups, TechCrunch reported on Tuesday.

The firm led a funding round in Bengaluru-based cryptocurrency exchange CoinSwitch Kuber last year and is now looking to hire for several investment roles in the country.

Andreessen Horowitz’s announcement comes as several of its peers are also doubling down their investments in India to cash in on growth opportunities in the country. Lightspeed India Venture Partners is also looking to raise over $500 million for its fourth India fund.

MamaEarth eyes IPO by 2023

D2C skincare and beauty brand MamaEarth is weighing options to go public in the next 12-15 months, Entrackr reported on Wednesday.

Internal discussions have been going on for the past couple of months for a potential public listing in FY24, sources told Entrackr.

MamaEarth became the first unicorn of 2022 after raising a $52-million round led by its early backer Sequoia.

Sequoia, Sofina, and other backers are likely to give a green signal to IPO as the company’s bottom line is strong and profitable, Entrackr reported.

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