360 One acquires ET Money💸
Zomato to invest Rs 400 Cr, South Park Commons enters India, Jupiter receives wallet licence, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
I apologize for the abrupt break in our Rise & Shine series. I assure you this won’t happen again. Thank you for your understanding and continued support. Let’s keep rising and shining together.
“The elevator to success is out of order. You’ll have to use the stairs, one step at a time.”
- Joe Girard
Today’s quote reminds us of the importance of perseverance and taking things one step at a time.
Tech Updates
South Park Commons enters India in collaboration with Binny Bansal
South Park Commons (SPC), the technical community and early-stage venture fund, has announced the opening of its first international location (outside the US) in Bengaluru in collaboration with Flipkart’s co-founder Binny Bansal. Founded in 2015 by Ruchi Sanghvi, the first female engineer at Facebook and former VP of operations at Dropbox, SPC will provide a supportive environment for the country’s startup founders, technologists, and researchers to navigate the early stage of their careers.
360 One acquires Times Internet’s ET Money for $44 Mn
Wealth and alternates-focused firm 360 One (formerly IIFL Wealth) has acquired Times Internet-owned wealth management platform ET Money for about Rs 365.8 crore ($44 million).
Neobank Jupiter receives wallet license from RBI
Neobanking platform Jupiter has received Prepaid Payment Instruments (wallet license) from the Reserve Bank of India (RBI), according to a notification by the apex banking body. The move will allow Jupiter to offer digital wallets to its users for making UPI payments.
Zomato to invest Rs 400 Cr in Blinkit and Zomato Entertainment
Foodtech major Zomato is pumping Rs 300 crore ($36 million) in its quick commerce arm Blinkit. The infusion will help the platform to beef up its offering against two competitors: Swiggy Instamart and Zepto. Besides Blinkit, Zomato is also set to invest another Rs 100 crore ($12 million) in Zomato Entertainment, a subsidiary that controls the firm’s live events and ticketing businesses.
Funding Deals
Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII).
Consumer electronics startup Indkal Technologies has raised $36 million (approximately Rs 300 crore) led by Mauritius-based Aries Opportunities Fund.
Foxtale, a direct-to-consumer (D2C) skincare brand, has today announced raising $18 million (approx. Rs 150 crore) in its Series B funding round, led by Singapore-based Panthera Growth Partners.
Advanced manufacturing startup Ethereal Machines has raised $13 million in a Series A round led by Peak XV Partners and Steadview Capital. Existing investors Blume Ventures, Enam Investments, and Sandeep Singhal also participated in this round.
RENÉE Cosmetics, a new-age beauty brand, announced that it has raised INR 100 cr (around $12 million) in its extended Series B round led by existing investors Evolvence India and Edelweiss Group.
Trampoline, a cross-border B2B home décor brand, has raised $5 million in its seed round led by Matrix Partners India and WaterBridge Ventures, with participation from Alteria Capital with an additional $2 million in venture debt.
Salon chain JCB (Jean Claude Biguine) Salons India has raised Rs 40 crore ($4.8 million) from alternative credit platform Blacksoil.
Skye Air, a SaaS-based autonomous logistics solution provider, has raised $4 million in its Series A round from Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital. The round also saw participation from Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures and other existing investors, family offices and angels.
Fintech startup CredAble has raised Rs 30 crore ($3.6 million) in debt funding from SIDBI.
Palette Brands (earlier White.Inc), a next-generation consumer goods firm, has raised close to $2 million in its pre-series A round led by Rockstud Capital. The round also saw participation from existing investors including IPV and Dholakia Ventures, and some angel investors including Stoffer Anko Norden and Apurva Salapuria.
Insurance-first BNPL startup Finsall has raised Rs 15 crore ($1.8 million) in a bridge round led by Unicorn India Ventures and Seafund with additional involvement from other institutional investors.
Qiro Finance, a decentralized finance (DeFi) company, has raised $1.2 million in its pre-seed round for their new venture, Qiro Finance, led by Alliance, an early-stage web3 accelerator, with involvement from entities like Druid Ventures, Escape Velocity (EV3), Trident Digital and CMT Digital.
Clapingo, an on-demand English tutoring platform, has raised an undisclosed amount from notable investors including Biswa Kalyan Rath (comedian and writer), Sandeep Aggarwal (Droom and Shopclues) and Appurv Gupta (comedian and satirist) and Foundership HQ.
🪜 Short Story: Climbing to Success
Emma dreamt of becoming a successful novelist. She knew it wouldn't be easy and that there was no shortcut to achieving her dream.
Instead of waiting for a big break, she focused on writing one page at a time every day.
Emma faced rejections and setbacks, but she persisted, understanding that each step brought her closer to her goal.
Over time, her dedication paid off, and her book was finally published, receiving critical acclaim.
Tweet of the day🐥
Success often comes from consistent effort and determination.
Embrace the journey, take it one step at a time, and remember that each small step brings you closer to your dreams.
Feel free to share it with someone who could use a little inspiration. Let's pass on the good vibes and make someone's day!
Thanks for reading till the end!
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