Blinkit rolls out Bistro; 10 min food delivery🥡
Gukesh wins, Bluestone likely to launch IPO, Mobikwik IPO subscribed 17 times, Zomato receives Rs 803 Cr notice from GST, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"Hoping for the best, prepared for the worst, and unsurprised by anything in between."
Today’s thought-provoking quote reminds us of balancing optimism with practicality while adapting to life’s unexpected turns.
By staying grounded and adaptable, we navigate life’s uncertainties with confidence, no matter what comes our way.
Tech Updates
Blinkit enters 10-minute food delivery space; rolls out Bistro app
Zomato-owned quick commerce platform Blinkit has launched a standalone app Bistro, marking its foray into the 10-minute food delivery space. Currently, the service is available in a few localities of Gurgaon. This development comes at a time when food delivery and quick commerce platforms, after rapidly expanding 10 to 15-minute grocery delivery services in urban markets, are now extending the ultra-fast delivery model to food.
Bluestone likely to launch IPO at Rs 12,000-13,000 crore valuation; up 50% from last funding round
Jewellery retailer Bluestone, which on Thursday filed the draft papers for an initial public offering (IPO), is expected to price the issue at a significant premium from its last private market valuation. The company could get valued at Rs 12,000-13,000 crore, a 50% jump from the most recent private fundraise.
Mobikwik IPO subscribed 17 times, driven by retail investors
One Mobikwik Systems, which runs digital payment application Mobikwik, saw its IPO being subscribed 17 times at the end of the second day of the public issue. The retail portion of the IPO was subscribed 58 times while the non-institutional portion was booked 22 times.
Zomato receives Rs 803 Cr demand notice from GST
Foodtech major Zomato has received a demand notice of Rs 803 crore (nearly $100 million) from the Joint Commissioner of CGST & Central Excise, Thane Commissionerate, Maharashtra. On Thursday, the company received a demand order passed by the Joint Commissioner of CGST & Central Excise, Thane, of Rs 803 crore for the period from 29 October 2019 to 31 March 2022, the company’s filing accessed from the National Stock Exchange shows.
Funding Deals
Foodtech firm Rebel Foods has announced its Series G funding round of $210 million, comprising a mix of primary and secondary share sales. Temasek led the Series G round with participation from existing investor Evolvence.
Contract manufacturing startup Zetwerk has secured $70 million in fresh funding, led by Khosla Ventures, with Baillie Gifford and Rakesh Gangwal also participating.
Pune-based FPL Technologies, which operates a credit card issuance and digital payments platform, One Card, has secured around $25.5 million in a fresh funding round led by QED Investors. Peak XV Partners, Z47 (previously Matrix Partners India), and Better Tomorrow Ventures also participated in the round.
Regional language-focused over-the-top (OTT) platform Stage is raising Rs 84.6 crore (approximately $10 million) in its Series B round led by Goodwater Capital and with the participation of Blume Ventures.
Superfone, an all-in-one business phone and CRM app for SMBs, has raised $1.9 million in its pre-Series A funding round. YourNest Venture Capital led the round with a $950,000 investment, along with participation from Ankur Capital, Finsight Seed Fund, and a consortium of angel investors.
Content creator and actor Bhuvan Bam has joined direct-to-consumer (D2C) brand Peppy as an investor and cofounder to drive the brand across demographics and consumer cohorts.
🎁 Short Story: The Resilient Planner
Nina, a small business owner, was gearing up for her product launch. While she envisioned a successful debut, she also made contingency plans for potential hiccups, from supplier delays to unexpected customer feedback.
On launch day, a minor technical glitch occurred, but thanks to her preparation, Nina quickly resolved the issue and the launch was a success.
Her balanced approach allowed her to stay calm and focused, turning challenges into opportunities.
Gukesh for the Win! 🎯
At 18, our boy D Gukesh just became the Youngest World Chess Champion in history!♟️
Who would’ve thought a tiny mistake on move 55 would hand over the crown? Even the reigning champ Ding Liren couldn’t see that coming! and boom, Gukesh was lifting the trophy! 🏆👀🔮
But here’s the real lesson: Every setback is just a plot twist in your success story. If Gukesh can bounce back from an opening-round defeat and still checkmate the world, what’s stopping you from making your next move?
The world’s your chessboard. Time to play smart, hustle hard, and never miss your shot! 🚀
Tweet of the day🐥
As you wrap up the week, carry this mindset with you. Hope for the best, prepare for challenges, and stay open to what life brings.
Rise & Shine is here to remind you that resilience and optimism together create a foundation for success.
Have a prepared and optimistic Friday!
Thanks for reading till the end!