Category — Market Entry
Blue chip Silicon Valley venture fund Sequoia Capital has had a presence on the ground in India for over a decade. Now it has announced a new $530 million fund which whose focus will include healthcare in India. To make this possible, Sequoia Capital India Advisors has assembled an internal team of 10 executives to help founders of portfolio companies with support in the legal, finance, marketing, human resources, information technology, business development and engineering divisions. Sequoia Capital is invested in more than 75 companies including Just Dial, handset maker Micromax Informatics Ltd, and Vasan Eye Care Ltd.
Within healthcare, the firm invests across diagnostic services, genetics services, lab services, patient services, product development services, and enabling technology companies. While Sequoia is best know for technology successes such as Apple, Cisco, Google, What’s App and Yahoo, the fund has had a deep interest in healthcare and sees India as a new frontier for healthcare related startups. It’s current healthcare investments include Health Catalyst, a tech platform that organizes and links health-related data from different systems and Natera which develops tests ranging from pre-implantation genetic diagnosis for IVF to advances in the field of non-invasive prenatal testing
“The two trends that we have been seeing is that mobile Internet is growing, and Indian start-ups are increasingly becoming global. We want to tap both these opportunities,” said Shailendra Singh, managing director Sequoia Capital. The fund’s India offices are located in Bangalore.
July 26, 2014 No Comments
After selling more than 9,500 cars in India last year, Mercedes-Benz is aiming for double-digit growth now.
“We are planning to launch new models and increase the manufacturing capacity of out Chakan plant from 10,000 to 20,000 units a year,” said Boris Fitz, VP, sales and network development, Mercedes-Benz India at the South India launch of A-class and B-class Edition 1 in Hyderabad.
July 15, 2014 No Comments
Europe’s fourth-biggest retailer, Metro AG, said it wants India to become one of its “focus expansion countries”, alongside Russia, China and Turkey. “We have seen continuous like-for-like growth recently in India. Now we decide to inject extra momentum into our expansion course there,” Metro CEO Olaf Koch confirmed.
The company is planning to have 50 wholesale stores in the country by 2020, up from 16 now. Metro has been active in India with its cash-and-carry business since 2003 and is one of the few foreign retailers operating in the country. Besides stores in major cities such as Delhi, Bangalore, Mumbai and Kolkatta, the company has chosen a regional expansion to Tier 2 cities such as Indore, Jaipur and Vijaywada. It has also built up a geographic focus in one state, Punjab, with stores in Amritsar, Chandigarh, Jalandhar and Ludhiana.
In 2012, the Indian government gave foreign supermarket chains the green light to enter its $500 billion retail sector. Full foreign ownership of supermarkets that sell directly to consumers is restricted. Metro sells goods to small shopkeepers, which dominate India retail market.
May 5, 2014 No Comments
Further developing its capabilities in India, Covidien PLC has opened a training and education center in India. Quoted in MarketNews Brian D. King, President Emerging Markets said “The Covidien Center of Innovation India in Mumbai offers clinicians training on advanced procedures and techniques using leading equipment and technology.
The top three priorities will be procedures to address vascular disease, metabolic disorders (obesity and Type II diabetes) and cancer. Mark Rooney, Managing Director, India Subcontinent, Covidien, said, “Chronic diseases contribute to over half of Indian deaths. Cardiovascular disease, dyslipidemia and many types of cancers are highly prevalent in urban and rural areas. The India center will have the capacity to train more than 5,000 healthcare professionals annually
Covidien has an important and growing presence in India with offices in Gurgaon, Mumbai, Chennai, Kolkata and Hyderabad. The company has more than 400 employees in India with a network of distributors and partner hospitals across the country. In 2012, Covidien opened the Covidien India Engineering Center, in Hyderabad. (Full Disclosure: The company is an Amritt client. This article is derived exclusively from public sources).
April 30, 2014 No Comments
The beauty brand Lush, which runs 900 stores globally, wants to open a store in Delhi by the end of 2014. “Our investment will initially be limited to setting up and running a single shop in Delhi…. If the market responds well, we plan to develop this into a much larger investment as we expand our presence through brick and mortar stores and, if the government allows it, online” said Rose Byfleet, Lush India project manager.
Foreign retailers and brands have entered the Indian market under single brand retailing in a big way in the last couple of years. The government has cleared single-brand retail proposals worth nearly $2 billion in the past year. Since 2006, the government has cleared 60-70 proposals of single-brand retail after the segment was opened to foreign investors.
April 1, 2014 No Comments