Media incubator Espacio announces today its most recent acquisition of The Tech Panda, a Bangalore-based media publication dedicated to startup and tech news in India.
The Tech Panda was founded in 2012 by entrepreneur, technologist, and writer Prateek Panda, who is also the Co-Founder & CMO of Appknox, with the aim of highlighting the strength of innovation within India. The publication’s strong focus on Indian entrepreneurship and technology has helped bring attention to hundreds of startups throughout the region, having become a go-to news source for people from over 40 countries and earned recognition as one of the top 100 startups in India.
“I founded The Tech Panda with the hope that through combined efforts we could make a one-stop-destination for all important updates in the field of technology in this space,” said Panda. “We are delighted that Espacio share this vision and believe they are well equipped to continue where we left off.”
The addition of The Tech Panda to the Espacio portfolio adds to the company’s recent string of acquisitions with the goal of exposing and tracking the growth of developing startup ecosystems throughout the world. In July, the incubator announced the acquisition of Techli which focuses on tech and startups in the Midwest of the United States, and just last month announced the acquisition of 150sec which is dedicated to similar coverage throughout Central and Eastern Europe.
“The rate of technological advancement and its potential to disrupt — all over the world and particularly in developing regions such as India — is incredible. For this reason I admire and resonate with Prateek’s goal to give a bigger voice to one of the most important and influential business sectors of today,” said Conrad Egusa, CEO of Espacio. “My team’s goal now is to build on the mission of Prateek in creating the premier publication and platform for startups and entrepreneurs in India.”
India has recently been undergoing a dramatic technological shift with its digital economy expected to grow from $270 billion to around $1 trillion over the next five to seven years, according to a report by PwC. Its government’s push for demonetization late last year has led to a number of developments and opportunities in the fintech industry, and a still-low smartphone market saturation suggests that there is ample room for the county’s development with regard to technology. Along with this growth, there is sure to be a significant effect on the Indian society as a whole — and Espacio intends to be a leading voice in its coverage.
“We see an incredible amount of interesting ideas and technology in India and this is reflected in the number of investors that are heading there,” said Egusa. “But startup media coverage does not necessarily reflect this; this is something that TheTechPanda in tandem with Espacio will be trying to change.”