Ather enters unicorn club🦄
Ather enters unicorn club🦄
Ola Electric up 20% hits upper circuit, Shadowfax eyes Rs 3000 Cr IPO, myTVS to launch AI-led diagnostics platform, Funding Deals and more.
Good morning and welcome to Tuesday’s edition of Rise & Shine!
"The harder the conflict, the greater the triumph."
— George Washington
Today’s quote reminds us that great challenges can lead to even greater victories, encouraging us to embrace difficulties as opportunities for significant achievements.
The intensity of our challenges can forge our character and resilience, leading to triumphs that resonate deeply and are remembered long after they are achieved.
Tech Updates
Ather enters unicorn club with $71 million from govt’s NIIF
Bengaluru’s Ather Energy has become the fourth unicorn to be minted in India this year after closing a Rs 600 crore ($71 million) funding round from existing investor the National Investment and Infrastructure Fund (NIIF) at a $1.3 billion post-money valuation.
Ola Electric shares up 20% on Day 2 after listing; hit upper circuit
Electric scooter maker Ola Electric saw its shares rally 20% on the BSE on Monday to hit the upper circuit of Rs 109.41, after a muted debut on Friday. Ola Electric had a flat opening on August 9, listing at the issue price of Rs 76. However, it recovered later in the day and surged 20% to hit the upper circuit.
Logistics company Shadowfax eyes Rs 3,000-crore IPO
Ecommerce logistics firm Shadowfax Technologies is planning to list on the bourses with an initial public offering (IPO) to raise about Rs 2,500-3,000 crore. The Flipkart-backed company has started discussions with merchant bankers to set the ball rolling, eyeing a Rs 5,000-8,000 crore valuation after the IPO.
Ki Mobility’s myTVS to launch AI-led diagnostics platform
Ki Mobility’s myTVS will launch an artificial intelligence (AI)-led diagnostics platform later this week that will cater to the aftermarket segment and that can help customers monitor their car’s health and aid technicians at service centres.
Funding Deals
Wealth and asset management firm Neo has raised Rs 400 crore or $48 million in Series B round led by MUFG Bank and New York-based Euclidean Capital LLC. Existing investor Peak XV Partners also participated in this round.
Payment gateway and point of sales (PoS) provider Innoviti has Rs 70 crore ($8.5 million) in a combination of equity and debt. The second tranche of Series E round was led by Random Walk Solutions, with participation from existing investors Bessemer Venture Partners USA, Patni Family Office India, and Alumni Ventures.
E-mobility startup Kazam has secured $8 million in Series A3 funding round led by Vertex Ventures Southeast Asia and India. The round also witnessed participation from Avaana Capital, Alteria Capital, and other notable investors.
Healthcare startup 4baseCare has raised $6 million in its Series A round led by Yali Capital.
Cross-border payment startup Skydo has raised $5 million in a fresh equity round led by Elevation Capital along with participation from a few angel investors.
B2B healthcare financing startup HealthCRED has raised $1.2 million in its seed round led by Antler India, TRTL VC, DeVC, iSeedVC and Angel List India. The round also saw participation from angel investors including Dr. Subho Ray (President, IAMAI), Nitin Gupta (CEO, Uni Cards), Amit Lakhotia (CEO, ParkPlus) and founders of InsuranceDekho and SEA-based Docquity.
Mumbai-based luxury men’s brand Halden has raised 5 Rs crore in a seed funding round led by Prajay Advisors.
MiClient, an AI-driven B2B sales enablement platform, has raised Rs 3.9 crore in its seed funding round led by IAN Group with participation from Anicut, GSF, RTAF, and Keiretsu. Vikas Kuthiala and Pratik Mathurkar from IAN led the round.
Travel-tech SaaS startup Ziptrrip has raised Rs 2 crore in a pre-seed funding round from angel investors including Anil K Jha, Prantik Dasgupta, and others.
Omni-channel FMCG brand Adukale has raised funds from early-stage backer NuVentures as part of its ongoing round.
Rural fintech startup Jai Kisan has received an NBFC license through its majority strategic acquisition of Kushal Finnovation Capital Private Limited.
🏔️ Short Story: The Climber’s Summit
Elena, an amateur mountain climber, set her sights on conquering a peak notorious for its challenging terrain and harsh conditions. Many tried and failed to reach the summit, but Elena was determined.
She recalled Washington's quote as she faced each obstacle—steep climbs, unpredictable weather, and physical exhaustion.
Her journey was arduous, but she grew stronger and more skilled with each step. After days of relentless effort, Elena finally reached the summit.
The view from the top and the sense of accomplishment were exhilarating.
The triumph was not just about reaching the peak but about overcoming the formidable journey that led there.
Tweet of the day🐥
As you face your challenges today, remember that the difficulties are often a precursor to great success.
Embrace the conflict, learn from it, and let it drive you toward a greater triumph.
Rise & Shine is here to support and inspire you on your journey to victory.
Have a triumphant Tuesday!
Thanks for reading till the end!