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The Economic Times
Snap's India ad push; Indian VCs chase the US AI boom
The Economic Times article surveys Snap’s intensified push in India, noting that India has become Snap’s fastest-growing and now largest market by users, even as the global advertising market tightens due to geopolitical and macro pressures. Concurrently, Indian venture capital firms are expanding presence in the United States to participate in the AI funding surge, with Elevation Capital, Peak XV Partners, and Nexus Venture Partners all increasing US activity. The piece also highlights notable Indian AI and tech funding, such as FirstClub’s $55 million round and Ringg AI’s potential $10 million round, illustrating a broader trend of AI-native startups drawing international investor interest. These dynamics reflect a shift toward closer, cross-border collaboration in AI, with implications for portfolio strategy, talent movement, and market localization, even as traditional ad spend pressures and valuation adjustments persist in other sectors.
MonitorConfidence: MediumShort term horizon
Published 4 Jun 2026, 02:31 UTC4 min read
Visit original article ↗Lead image — The Economic Times
Summary
TL;DR
- Snap’s India user base exceeds 250 million MAUs, making India its largest market by users
- Indian VCs expand US presence to participate in AI funding boom
- Elevation Capital, Peak XV Partners, and Nexus Venture Partners increase US activity
- FirstClub raises $55 million; operates 24 dark stores in Bengaluru and Hyderabad
- Ringg AI attracting potential investment rounds as voice AI gains traction
- Ola’s ANI Technologies valuation cut by Vanguard signals broader market pressures
Interesting facts
- India now accounts for about 50% of some AI funding activity in 2025, up from 15–20% in 2024