Tencent’s now the Alibaba of Indian startup scene

Chinese tech behemoth Tencent has emerged as the biggest Chinese strategic investor in the Indian startup ecosystem, aggressively closing about 10 funding deals across stages over the last six-eight months.

Its increased activity coincides with Alibaba stepping back from the domestic market after years of being among the most prolific Chinese strategics in India.

Tencent’s most recent bet is on edtech startup Doubtnut, where it has led a $15 million round, its second bet in the space, having earlier invested in Byju’s.