Adar Poonawalla acquires 50% in Dharma Productions🎬
Deepinder Goyal launches mental wellness startup, PhonePe crosses Rs 5000 Cr revenue, Hyundai Motor India shares make poor start, Funding Deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
“If we all did the things we are capable of, we would literally astound ourselves.”
— Thomas Edison
Today, Thomas Edison’s words challenge us to tap into our full potential, reminding us that we are often capable of far more than we imagine.
By embracing challenges and stepping outside our comfort zones, we can unlock abilities and strengths we never knew existed.
Tech Updates
Adar Poonawalla invests Rs 1,000 Cr in Dharma Productions
Adar Poonawalla-led Serene Productions has announced that it has entered into a binding agreement to invest ₹1,000 crore into Karan Johar’s Dharma Productions and Dharmatic Entertainment. Through this investment, Serene Productions will hold a 50% stake in Dharma, with Karan Johar retaining the remaining 50% ownership.
Deepinder Goyal to enter health and mental fitness space with ‘Continue’
Zomato co-founder and chief executive officer Deepinder Goyal has incorporated a new venture named Continue, which will focus on health tracking and mental wellness. However, the new venture is purely personal, with no Zomato involvement.
PhonePe crosses Rs 5,000 Cr revenue in FY24; losses dwindle 28.6%
In 2023, digital payments platform PhonePe secured nearly $1 billion in funding from General Atlantic, Walmart, Tiger Global, and other investors. This significant investment and effective cost management helped PhonePe surpass Rs 5,000 crore in revenue while reducing its losses during FY24.
Hyundai Motor India stock debuts at 1.5% discount over issue price
Hyundai Motor India's shares debuted on the exchanges on Tuesday at a 1.5% discount. The stock was listed at Rs 1,931 on the BSE, compared to the issue price of Rs 1,960. On the NSE, it is listed at Rs 1,934.
Funding Deals
AI cloud startup Neysahas secured $30 million in Series A funding co-led by its existing investors NTTVC, Z47 (formerly Matrix Partners India), and Nexus Venture Partners.
Gaming and sports media company Nazara Technologies has entered into a share subscription agreement with SBI Funds Management, under its SBI Innovative Opportunities Fund, to raise Rs 220 crore.
GlobalBees Brands Private Limited, a subsidiary of FirstCry parent Brainbees Solutions, has invested Rs 4.5 crore in Dynamic IT Solution Private Limited, a step down subsidiary of the company.
👲🏻 Short Story: The Unexpected Leader
Sophie, a software developer, was offered the chance to lead a major project. Initially, she doubted her ability to manage such a large task, feeling more comfortable in her usual role.
However, inspired by Edison’s quote, she embraced the opportunity and trusted her skills.
As she tackled the project, Sophie surprised herself with her ability to manage the team, navigate challenges, and deliver results that exceeded expectations. The experience astounded not only her team but also Sophie herself.
She realized that stepping up allowed her to discover a new level of capability she never knew she had.
Tweet of the day🐥
As you face your day, remember you’re capable of more than you think. Don’t shy away from opportunities to challenge yourself.
Rise & Shine is here to remind you that by pushing your limits, you can astonish yourself with what you can achieve.
Have an empowered and ambitious Tuesday!
Thanks for reading till the end!