Over the past few months, COVID-19 has brought much of the fundraising community to a standstill. However, amidst it all India’s hypergrowth telco Reliance Jio Platforms has put its fundraising efforts into full gear.
Over the past three months, Jio has raised over $15.5 billion from a cohort of investors that include prominent financial institutions like KKR and Silver Lake Partners, massive sovereign wealth funds like Saudi Arabia’s Public Investment Fund and some of the biggest names in tech including Facebook.
The recent deals have cemented Mukesh Ambani’s ambition to make his oil-to-retails giant Reliance Industries (India’s most valuable firm) a top homegrown internet giant.
On Friday, he said he plans to publicly list Reliance Jio Platforms and Reliance Retail, the largest retail chain in the country — also controlled by him — in the next five years.
As Reliance Jio Platforms, which has become India’s top telecom operator with over 388 million subscribers in less than four years, continues its funding spree, at Extra Crunch we are doubling down on our focus on covering everything Jio from here on out.
As we’ve attempted to get up to speed on the company, we’ve compiled a supplemental list of resources and readings that we believe are particularly helpful for learning the story of Jio, which remains a mysterious firm to many.