Peter Thiel’s Founders Fund has made its first investment in an Indian startup, ClearTax, which aims to make it easier to file taxes through the Internet in India. The $2 million funding, shortly after the startup attracted angel money, was notable too for the participation of Sequoia Capital. Founders Fund made the investment through FF Angel, its seed-stage fund. Founder and CEO Archit Gupta has raised a total of $3.3 million in seed funding in a round tht he was oversubscribed. As India increasingly goes digital, ClearTax is on a major expansion spree in India, hiring engineers away from FlipKart and seeking to have 7 million Indian taxpayers on its tax return platform by the end of 2017, up from 3 million by the end of this year.
I don't mind him running off, I want to sit in my breakfast nook, bitch and spill coffee on my keyboard.
I mind something else. I should still have the right to make the maximum entropy bet on start up funding in Indian tech, I want my smart card. I want my on screen IndianTech icon now, before Peter runs off. As soon as I heard the news a few weeks ago, I wanted to tap that icon, drop a few bucks into the pit, take a position.
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