For anxious Indian start-ups seeking to raise capital as their country’s tech bubble deflates, the investment plans of companies such as China’s Cheetah Mobile could hardly come at a better time.
“The consensus in China seems to be that India will be the next growth engine for the entire global internet market, because of its population, economic growth and rising internet penetration,” says Alex Yao, senior vice-president at the Beijing-based group, which makes utility software for Android smartphones.
To tap that opportunity, Cheetah is planning a flurry of Indian investments, a process it began last November by leading a Rs880m ($12m) round for GOQii, the wearable fitness device maker founded by Indian entrepreneur Vishal Gondal.
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