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India Investment Memos

Deep-dive research on India's most interesting startups and growth-stage companies, written the way top VCs analyze them.

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AdTech · Listed · NSE: AFFLE
Affle 3i Limited
India's dominant mobile advertising platform riding the CPCU model — 3.9B devices reached, 70% international revenue, near debt-free.
Invest / Hold April 2026 Read memo →