Bajaj and TVS surpass Ola Electric🛵
UPI transactions surge 8%, Reliance spends $13 Bn on acquisitions, Accel raises $650 million, Funding Deals and more.
Good morning and welcome to Thursday’s edition of Rise & Shine!
“If you’re not willing to risk the usual, you will have to settle for the ordinary.”
— Jim Rohn
Today, Jim Rohn’s words challenge us to step outside our comfort zones, reminding us that extraordinary outcomes require bold risks and a willingness to embrace the unknown.
It’s in the risks we take that we find innovation, growth, and success.
Tech Updates
Bajaj and TVS surpass Ola Electric to lead December two-wheeler EV sales
The electric two-wheeler market in India fell to 73,316 units in December from 1,19,654 units in November. Despite the slowdown, competition stayed strong as manufacturers aimed to lead the expanding EV market. As per Vahan data, Bajaj Auto led the market with 24.93% of total sales and delivered 18,276 units. Bajaj’s dominance can be attributed to the popularity of the Chetak series. TVS Motor followed with 23.48% market share and sold 17,212 units in December.
UPI transactions surge 8% in December
Unified Payments Interface (UPI) recorded 16.73 billion transactions worth Rs 23.25 lakh crore in December, marking an 8% increase in volume and a 7.88% rise in value compared to November. On a year-on-year basis, this reflects a 39% year-on-year (YoY) growth in volume and a 28% increase in value, according to data released by NPCI (The National Payments Corporation of India).
Reliance spends USD 13 Bn on acquisitions in five years
Billionaire Mukesh Ambani's Reliance Industries Ltd. has spent USD 13 billion on acquisitions in the past five years. Last week, Reliance bought the oncology platform Karkinos Healthcare for ₹375 crore, adding another stack to its diagnostic and digital healthcare ecosystem. Of this, USD 6 billion was spent on acquisitions of companies and assets in the media and education business and USD 2.6 billion in telecom and internet verticals. It spent USD 1.7 billion on acquisitions in new energy and USD 1.14 billion on retail.
Accel raises $650 million for its eighth India-focused fund
Accel, one of the most prolific investment firms in the world, has raised a record $650 million or around ₹5,500 crores for its eighth India fund, a regulatory filing with the US Securities and Exchange Commission (SEC) showed on January 1. The additional capital will help the investor deepen its India focus, especially at a time when it is looking to back non-conventional companies building from non-metro cities.
Funding Deals
Guest management platform Guestara has secured $500K in a pre-seed funding round led by Sanjay Ghare.
NumberOne Academy, an enablement platform focused on empowering SME entrepreneurs, has raised an investment of Rs 3 crore in a pre-seed funding round led by T.I.G.E.R Santosh Nair.
💡 Short Story: The Fearless Entrepreneur
Lila, a corporate professional, dreamed of launching her tech startup. She hesitated, fearing the risks of leaving her stable job. But one day, inspired by Rohn’s words, she took the plunge.
The journey was filled with challenges, but her willingness to take a chance led to the creation of a groundbreaking app that transformed her industry. Lila’s story proves that extraordinary outcomes are reserved for those who dare to step beyond the usual.
Tweet of the day🐥
As you go about your day, consider what risks you’ve been avoiding and what extraordinary possibilities they might hold.
Rise & Shine reminds you that extraordinary success comes to those who are willing to take bold steps.
Have a fearless and ambitious Thursday!
Thanks for reading till the end!