500 Kulfis for $25 million

No, not really! A sort of Indian ice-cream or dessert, kulfis are extra sweet - so let's hope 500 Startups newest India-focussed fund reaps some sweet rewards. The fund launched in the last couple of weeks, and the NYC-based manager of the fund, Pankaj Jain, seems to be steering away from the food delivery space - a smart move in my opinion. I thought the UK and US were seeing food delivery startups by the dozen, but in India it feels like it's more in the hundreds, thanks to the sheer size of the pie that everyone is trying to get a slice of. 

The fund includes Sri Lanka and Bangladesh - there's probably more interesting stuff to be dug out from those countries. 

The Economist also has a good piece this month about why e-commerce in India is such a rat race at the moment . It talks about three changes e-commerce companies are influencing: financial infrastructure (digital wallet company Paytm has 6 times the number of users that credit card companies do in the country), physical infrastructure (roads can be pretty bad in the rural parts, but these companies step in where the government does not) and retailing itself (a younger population less enamoured of malls and more accustomed to online shopping than their parents). 

500 Kulfi

The Economist: India online

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