Tech startups see ray of hope as global giants like Apple, Intel shop for companies in India

India’s tech startup space, which saw few exists and diminishing interest seeing in the last two years, can see a revival as global giants are eyeing the country for companies and workforce.

After Apple made its first India acquisition of Tuplejump, tech startups in the country are hopeful of good days. Even Intel’s $300 million acquisition of Soft Machines, a Silicon Valley chip designer with offices in Hyderabad, has revived hopes.

Global giants such as Apple, Intel and Nutanix seem interested in India startups that work on artificial intelligence, cloud infrastructure and automation.

“What's appealing about Indian entrepreneurs and their ventures is a combination of talent, technology, traction and transactions,” Ravi Gururaj, Nasscom product council chairman, told ET, adding “talented small teams are working within an interesting technology area, where they are exhibiting some early product traction and a transaction which can be closed on relatively attractive terms.”

“The tech giants are keen on acquiring companies that specialise in machine learning and artificial intelligence,” Thiyagarajan M, head of mergers and acquisitions (M&As) at software product thinktank iSPIRT, told ET.

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